Value Australia uses a toolkit of next-generation Automated Valuation Models (AVMs) to calculate property values based on local property market data and a range of environmental, infrastructure and location factors such as a property’s proximity to a school, or the planned building of a new train station or hospital nearby.
The property values and digital reports can be integrated through application programming interfaces (APIs), or visually displayed on maps overlayed with other relevant geospatial information. The interactive spatial valuation tools can estimate value uplift based on changes to infrastructure, services or planning controls as they happen in real-time.
The platform is an efficient, accurate and scalable toolkit that can be used across a wide range of property types and applications Australia-wide.
The technology builds on six years of research and development through a pilot program across metropolitan Sydney and Brisbane as part of the award-winning RAISE project and the Value Australia Cooperative Research Centre Project, which has developed a range of AVMs.
Value Australia’s automated property valuation process significantly reduces the time and costs involved with manually assessing property values. It also provides lenders a new way of incorporating the technology within their business that has benefits for customers, brokers, risk, sales, policymakers and portfolio management.
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Value Australia can help local, state and federal government planning departments develop sustainable, prosperous and inclusive communities, and avoid poor planning outcomes in future.
Use of the solution could radically improve governments’ ability to fund large infrastructure projects by providing accurate and timely valuations for property tax/levies and land tax assessments, which governments rely on for funding.
A customisable module specifically for Valuer Generals streamlines the calculation of unimproved capital value with a unique validation system increasing transparency and reliability of valuations.
Using the Value Australia platform, property developers and investors can make more informed decisions about property values, in less time – including scenario and sequencing modelling.
The visualisation is extremely good and should be very helpful for a range of presentation and reporting purposes.”
“The basic 4-Step Value Australia process is sound and should produce consistent and reliable land value estimates for the residential properties on which it is focussed.”
Find out more about how Value Australia’s Automated Valuation platform can benefit your organisation.
