Determining a Property’s Worth: Valuation Methods Explained
Exploring the Key Approaches to Property Valuation Property valuation is a complex process that involves several methodologies to determine the value of real estate. Understanding these valuation methods is crucial for homeowners, investors, and professionals in the real estate industry. Here, we delve into the primary approaches used in Sydney property valuations. Sales Comparison Approach: The Market-Based Valuation The sales comparison approach is a widely used method for residential property valuation. This technique involves comparing the property in question to