How Much Does a Property Valuation Cost?

At Property Valuations Australia a property valuation costs from $159 for a desktop assessment, $339 for an inspected valuation of a standard home and $495 for a tax or compliance report, all including GST. Family law valuations are quoted for each matter from $1,650. Commercial valuations start from $1,980, and development, rural and specialised property from $2,750.

The fee depends less on the property than on what the valuation is for and who will rely on it. A report your accountant files away needs less work than one a court may test. This guide sets out our fees, what moves them and how to avoid paying for the wrong report.

How much does a property valuation cost?

Fees vary between firms. Ours are published below and include GST. Family law, commercial, specialist, stamp duty and court work is quoted in writing before work starts. We value property in New South Wales, Victoria, the ACT and the Northern Territory.

The full list, with what each report includes, is on the pricing page. Stamp duty and related-party transfer valuations are quoted individually: contact us with the details.

What affects the cost of a property valuation?

Six things move the fee more than anything else.

1. The purpose. A valuation for your own decision needs less than one the ATO, a state revenue office or a court may test. Reports for legal disputes set out more evidence and reasoning, and the valuer may have to answer questions about it later.
2. Whether the property is inspected. The site visit takes a large share of the valuer’s time. A desktop assessment relies on sales evidence, property records and photos instead, which is why it costs less.
3. The type of property. A standard home with plenty of nearby sales is the simplest case. Commercial property is valued on its leases and income, development land on what can be built, and prestige or unusual homes have few true comparable sales. Each takes more analysis.
4. Location. Properties outside the cities and regional centres we list may be quoted separately.
5. The number of valuation dates. Many valuations are at a past date, such as the day a home was first rented. A second date in the same report is $149. How retrospective valuations work explains what is involved.
6. Urgency. A prioritised residential report after the inspection is $330, subject to the valuer’s availability.

Is a desktop valuation good enough?

Often, for a standard home where the condition of the building does not change the answer. Some owners use a desktop assessment for capital gains tax, SMSF or date of death values, so ask your accountant or auditor first whether one will do. A desktop assessment is not the right tool when the property is unusual, recently renovated or high value, or when the report may be relied on in a dispute.

The person relying on the report decides what they will accept, and some say so in writing:

• NSW transfer duty. Revenue NSW’s ruling DUT 012 says that for a transfer with no price or a nominal price, it accepts a Valuer General valuation, a comprehensive valuation showing the property was inspected, or a recent arm’s length sale of the property. Brief appraisals and estimates that do not show a full inspection are not accepted.
• ACT conveyance duty. Where the parties are related or the price is nil or nominal, the ACT Revenue Office expects evidence of value, generally a full valuation report by a certified practising valuer, prepared before the title is registered (Revenue Circular DAA010.4).
• Capital gains tax. The Australian Property Institute, a professional body for valuers, describes a desktop report as an indicative value and recommends an inspected valuation where the tax system will rely on the value. Whether a desktop assessment suits your return is your accountant’s call.

Tell us the purpose when you request a valuation. If a desktop assessment will not do the job, we say so before anything is booked or charged.

Why can a cheap valuation end up costing more?

A valuation is only good value if you pay for it once. A report bought for the wrong purpose can cost you twice:

• A rejected report means a second one. If a revenue office will not accept the evidence you give it, you pay for another valuation that it will accept.
• The revenue office can charge you for its own valuation. In NSW, if your value differs by at least 10 per cent from a valuation the Chief Commissioner obtains, or you do not provide evidence of value within 60 days of being asked, the cost of that valuation can be recovered from you (Taxation Administration Act 1996 (NSW), section 17A(2)).
• Tax penalties. The ATO says that, generally, if you engage and properly instruct a professional valuer, you won’t be liable for penalties if it finds the professional valuation is deficient. Its guide warns that if you value an asset yourself, or use someone without adequate qualifications, you may be liable to interest and penalties.
• An appraisal is not a valuation. Whether an agent’s appraisal is accepted depends on who relies on it. In NSW, Revenue NSW does not accept a brief appraisal as evidence of value for a transfer with no price or a nominal price. In Victoria, the State Revenue Office accepts a licensed agent’s letter of appraisal with a copy of the rate notice for some related-party transfers. Read the difference.

Who pays for a property valuation?

• Buying with a loan: the lender arranges its own valuation. Ask your lender or broker whether you pay for it. We do not provide valuations for lending.
• Tax, transfers and super: the owner or trustee who requests the valuation.
• Estates: the estate. An executor, administrator or the estate’s lawyer can request a date of death valuation, and the invoice can be addressed to the estate.
• Separation: when both parties instruct one valuer together, they agree how the fee is shared.

What extras might you pay for?

Nothing is added automatically. You choose any extras when you request the valuation.

How do you get a fixed fee?

Request a valuation online with the address, the purpose and the date you need. The quote flow recommends a report and shows the fee before you commit. Commercial, development, rural, prestige and some regional properties receive a fixed quote instead. Either way, we confirm the fee and the timing in writing, and nothing is booked or charged until you accept.