Value estimates on property.com.au are generated using an Automated Valuation Model (AVM) provided by property data company, Proptrack. The AVM uses advanced AI technology made up of several smaller models. It gathers similar properties, looks at past sales, considers current listings, and evaluates the property's condition to estimate its value.
The AVM (Automated Valuation Model) provides an estimated property value, and a measure called Forecast Standard Deviation (FSD). The FSD shows how confident the model is about its estimate. A lower FSD means the estimate is more reliable, while a higher FSD means there is more uncertainty. On property.com.au, this confidence level is shown as low, medium, or high:
These estimates are based on available market data and are indicative only. If the displayed features of your property are incorrect and need to be updated, you can find more information on how to request feature updates here.
To obtain an accurate representation of the market, it is best to seek an appraisal from a local real estate agent. You can find a local agent by following the below link:
- Find a real estate agent in your local area here.
Estimated values are powered by Proptrack and sourced from realestate.com.au. If you have a question about the estimate showing for your property, you can contact the realestate.com.au Customer Support team at customercare@realestate.com.au.