How Long Does a Property Valuation Take?
From request to signed report, and what speeds it up or slows it down.
Published 6 min read
In this guide
How long a property valuation takes depends on four things: how quickly the valuer can get in, whether the documents are ready, how unusual the property is and what the report is for. Much of the work happens after the inspection, in the research and the report, and your valuer will tell you how long they expect to need on site. The timing should be confirmed before you commit: with us, the valuer’s name, the fee and the timing are confirmed in writing before anything is booked or charged.
What are the stages of a property valuation?
| Stage | What happens | What can hold it up |
|---|---|---|
| 1. Request and scope | You give the address, the purpose and the valuation date, and the right report is chosen | An unclear purpose or date |
| 2. Confirmation | Conflicts of interest are checked, and the valuer’s name, the fee and the timing are confirmed in writing | An unusual property that needs a closer look before it can be quoted |
| 3. Booking access | The inspection is arranged with you, a tenant or an agent | Tenant notice periods, availability and travel |
| 4. Inspection | The valuer inspects, measures and photographs the property | Locked areas, or a property bigger or more complex than described |
| 5. Research and analysis | Title, planning and strata checks, sales evidence, adjustments and method | Few comparable sales, missing leases or plans, or a past valuation date |
| 6. Report and sign-off | The report is written, checked and signed | Detailed reports for court, or complex property |
| 7. Delivery and queries | You receive the signed report and can raise reasonable questions | New information that changes the facts |
A desktop assessment skips stages 3 and 4, so there is no visit to arrange. The research and the report are still needed, and without an inspection the figure is indicative only.
How long does the valuer spend at the property?
Your valuer will tell you how long they expect to need on site. It depends on the property: a large home, a prestige property, a farm or a building with several tenants takes longer than a standard home, and a rural valuation can involve a long drive. Much of the work happens away from the property, in arranging the visit beforehand and the research afterwards. What a property valuer looks at explains what happens on the day.
What slows a property valuation down?
- Access. Tenants are entitled to notice, keys need collecting, and some properties can only be reached at certain times.
- Missing documents. A commercial valuation cannot be finished without the leases. Strata records, plans and approvals are often needed as well.
- Thin evidence. Prestige, unusual, rural and some regional properties have fewer comparable sales, so the valuer has to search wider and explain more.
- Past dates. A retrospective valuation needs sales evidence and records from the time, and the older the date, the longer they take to find.
- Legal reports. A report for a court case must meet the court’s rules for expert evidence, and a more detailed report takes longer to prepare.
- Changes along the way. A second valuation date, a different purpose or an extra property added after the work has started.
How can you speed up a property valuation?
- Be clear about the purpose and the valuation date from the start. If your accountant or lawyer has asked for something specific, pass it on word for word.
- Give the access contact’s details when you request, and tell any tenant early.
- Email documents as soon as you have your reference: plans, leases, strata records and a list of improvements with dates.
- Answer the valuer’s questions promptly.
- Ask whether a desktop assessment suits the purpose. It needs no inspection, so there is no visit to arrange, but it gives an indicative value only.
For residential property there is also a priority report for $330 incl. GST: a report date earlier than the standard timing, where one can be offered after the inspection. Whether your date can be met is confirmed before you commit.
How much notice does a tenant need before a valuation?
If the property is rented, the earliest inspection date depends on the tenancy rules where it is:
| Where | Notice for a valuation | Other limits |
|---|---|---|
| New South Wales | At least 7 days | Once in any 12-month period. In most cases, between 8am and 8pm and not on a Sunday or public holiday |
| Victoria | At least 7 days, in writing, giving the reason | Between 8am and 6pm, and not on a public holiday |
| ACT and the Northern Territory | Set by each territory’s tenancy laws | Check the tenancy agreement or the local tenancy authority |
A tenant can agree to an earlier time. A friendly call to the tenant before the formal notice often makes the booking easier for everyone.
How long do commercial, rural and family law valuations take?
Longer than a standard home, for good reasons. A commercial valuation depends on the leases, the tenancy schedule and the outgoings, and each tenancy is analysed. Rural property means travel, larger areas and sales evidence spread across a district. A family law valuation needs a more detailed report, and if it is for court it must meet the court’s rules for expert evidence. In each case the valuer looks at the scope first and confirms the timing together with the fee.
Does a retrospective or 30 June 2027 valuation take longer?
A retrospective valuation can take longer, because the valuer has to find sales evidence from around the past date and records of the property as it was then, and the older the date, the longer that takes. We confirm before you commit whether an inspection is also needed.
A valuation at 30 June 2027, for the new capital gains tax rules, is normally prepared after that date, because it relies on sales evidence up to then. The law sets no deadline, so it can also be prepared later as a retrospective valuation. See 30 June 2027 valuations.
How long does a bank valuation take?
A bank valuation is ordered by your lender, not by you, so the timing is in the lender’s hands. Lenders use different types of valuation, so ask your broker which one applies and how long it usually takes.
How long is a property valuation valid for?
A valuation does not expire, because it is a value at a stated date. What changes is how useful it is. For a past event, such as a date of death or a transfer, the valuation stays relevant. For a decision you are making now, an older valuation becomes less reliable as the market moves, and lenders and other users set their own limits on how old a valuation can be.
How timing works with us
You request a valuation online in a few minutes. A request is not a booking: we confirm the valuer’s name, the fee and the timing in writing, and nothing is booked or charged until you accept. If the timing does not suit your deadline, you find out before you have paid anything.
Sources
Last checked . The facts on this page were checked against these primary sources.
