A valuation is an assessment of market value at a specified date, for an agreed purpose. There is no universal rule that it must be renewed each year, but there are clear moments when an older report may no longer serve you.
When your purpose changes
A report prepared for one purpose is not automatically suitable for another. A valuation prepared for a family settlement, for example, may not meet a lender’s requirements, and lenders will often require a valuation instructed by them.
When the market has moved
Property markets change. Shifts in sales activity, interest rates, supply and local conditions can all affect value. If a decision depends on current value, it deserves current evidence.
When the property has changed
Renovations, extensions, a change in condition, a new lease, a change in occupancy or a change in permitted use can all bear on value, particularly for commercial and industrial property.
When an event calls for evidence
- Refinancing or new lending
- A purchase, sale or transfer between parties
- A deceased estate or family law settlement
- A taxation event requiring market value at a particular date
- Financial reporting or governance requirements
- Reviewing insurance or an investment portfolio
Before you request an update
Confirm the purpose, who will rely on the report and the date at which value is required. With that settled, the valuation can be scoped correctly from the start.
Discuss your valuation requirements
Speak with our team about your property, the purpose of the valuation and the date at which value is required.
Request a Valuation