Many Australians know that a property valuation is essential when buying, selling, or refinancing — but far fewer understand how often they should get one. If you’re a homeowner, investor, or planning financial decisions, knowing your property’s current market value can make all the difference.
In this article, we explore how often you should get a property valuation, the reasons for reassessing your property’s worth, and when timing can significantly impact your outcomes.
What Is a Property Valuation?
A property valuation is a formal, independent estimate of a property’s market value, completed by a certified valuer. It’s based on a combination of factors including:
- Land size and location
- Property condition
- Comparable recent sales
- Market conditions
Valuations are often required for mortgages, investment strategies, legal settlements, and financial planning.
Why You Might Need a Property Valuation More Than Once
Property values in Australia aren’t static. Your home might be worth significantly more (or less) than it was a few years ago — or even a few months ago in fast-moving markets.
Here’s why updating your property valuation can be a smart move:
Your Property Value Has Likely Changed
Renovations, infrastructure upgrades, and local suburb growth can increase value. Conversely, economic downturns or zoning changes may reduce it.
You Want to Refinance or Access Equity
Lenders require up-to-date valuations to determine your loan-to-value ratio (LVR). A higher valuation could unlock better loan terms or access to equity for investments or renovations.
You’re Planning to Sell or Lease
Knowing your current value helps you price the property competitively and position it correctly in the market.
For Taxation or Estate Planning
Accurate valuations assist with capital gains tax calculations, inheritance planning, and financial reporting for trusts or self-managed super funds (SMSFs).
Insurance Reassessments
Insurers may undervalue or overvalue your rebuild costs unless the figure is regularly updated by a professional.
How Often Should You Get a Property Valuation?
Every 1–3 Years (General Guidance)
For most homeowners and property investors, a valuation every 1–3 years is a solid rule of thumb — especially if the market has moved significantly or if you’ve completed renovations.
Annually (If You’re an Investor)
If you manage a property portfolio, an annual valuation can help you:
- Track portfolio performance
- Monitor capital growth
- Adjust rent to match market demand
- Make buy/hold/sell decisions
Immediately After Renovations or Upgrades
New kitchens, bathrooms, solar panels, or landscaping can add significant value. Get a valuation soon after major works are completed to reflect these changes accurately.
During Market Booms or Downturns
If your suburb is experiencing rapid growth or if interest rates and buyer demand are shifting, consider an updated valuation to reassess your strategy.
Situations Where One-Time Valuations Are Essential
- Applying for or refinancing a home loan
- Separating assets in a divorce
- Selling or buying off-market
- Settling an estate or family trust
- Lodging capital gains tax paperwork
In these cases, a current valuation isn’t just useful — it’s often legally required.
How to Know It’s Time to Revalue
Ask yourself:
- Has it been over two years since your last valuation?
- Have nearby properties recently sold for much higher prices?
- Have you made improvements to the home?
- Are you about to make a financial decision based on property value?
If you answer yes to any of these, now is a good time to schedule a valuation.
Who Can Perform Property Valuations in Australia?
Only a Certified Practising Valuer (CPV) — accredited by the Australian Property Institute (API) — can provide a formal, legally recognised valuation.
Avoid relying on online estimators or real estate agents’ appraisals for formal decisions. These may lack the accuracy and compliance needed for legal or financial use.
How Much Does It Cost?
Depending on location and property type:
- Standard residential property: $400–$700
- Prestige, rural or complex properties: $800–$1,500+
- Commercial/portfolio valuations: Priced per scope
For regular valuations (especially in portfolios), some firms offer discounted recurring services.
Conclusion
Knowing how often to get a property valuation is part of responsible homeownership and smart investment strategy. Whether you’re tracking growth, preparing to refinance, or adjusting your financial plan, a certified valuation gives you the insights needed to move forward with confidence.
Aim to review your property’s value every 1–3 years, or sooner if major changes have occurred. It’s not just about knowing the number — it’s about making every property decision smarter.