People looking to buy property in Australia are seeking the services of independent valuers so that they do not pay over the odds for their new house or apartment.
This is according to Propell National Valuers national director Kel Spencer, who told API Magazine that more people are taking the time to secure and negotiate the real value of a property.
"To determine the real value of a property, it's important to analyse the comparable sales in a nearby location and derive land values and building values from that," he said.
Mr Spencer went on to say that properties auctioned by a mortgage broker or houses sold on the behalf of the deceased often sell for lower prices than usual, and so should be ignored when a valuation is being calculated.
Earlier this week, the Real Estate Institute of South Australia claimed that the price of properties located in the region's countryside grew modestly in the first quarter of the year.
Posted by Craig Francis
