Key Facts:
Opteon has recorded a 20 per cent year-on-year increase in direct valuation enquiries, with demand spiking around RBA decisions.
Valuation enquiries increased by an average 12% during RBA decision weeks compared with the preceding week.
Australian Google search interest in, “how much is my home worth?” is also up 250% compared with the preceding year.
Interest in property values could rise further ahead of CGT changes taking effect on 1 July 2027, when the value of investment properties could become important for future tax outcomes.
Higher rates and falling property values are prompting Australians to take stock of their biggest asset, with new data pointing to a surge in homeowners seeking to understand what their property is worth. Enquiries to independent property valuation firm Opteon are up 20 per cent over the past year, with interest also spiking around RBA decisions, rising by an average 12 per cent during decision weeks.
Opteon’s analysis found valuation enquiries increased around five of the six RBA decisions analysed this year. The trend is also playing out online, with Australian Google search interest in “how much is my home worth?” up 250 per cent compared with the preceding year.
Opteon says RBA decisions can be a trigger for households to reassess their financial position, including the value and equity they hold in their home, particularly when weighing up refinancing, selling or investing in a falling market.
The behaviour comes against a backdrop of weaker property confidence. In an Opteon survey conducted following the RBA’s September rate rise, 61 per cent of respondents said the decision had made them less confident about the property market.
Michael McNulty, Opteon’s National Director – Residential and Regional Valuation, said RBA decisions often prompt property owners to take stock of their own position.
“Interest rate decisions get people looking more closely at their finances and, for many Australians, their property is their largest asset. People want to understand what their property is worth and what that means for their position, whether they’re considering refinancing, selling, investing or simply reviewing their finances.”
Why 1 July 2027 could become an important date for investors
For property investors, knowing what their property is worth could take on added significance from 1 July 2027, when changes to capital gains tax take effect.
For investment properties owned across that date, gains made before and after 1 July 2027 will be treated differently. Investors will be able to establish what their property was worth on 1 July 2027 through a valuation, or by using an alternative ATO calculation method.
Mr McNulty said the timing could be particularly relevant if an individual property is at a weaker point in its cycle when the changes take effect.
“Property values don’t move in a straight line. If the market is down when the changes take effect and a property later recovers, that increase in value will have happened after 1 July 2027. That makes having an accurate picture of what the property was worth on that particular date important.” Mr McNulty said.
When an online estimate may not tell the whole story
Mr McNulty said the surge in Australians searching for their home’s value also highlighted an important distinction between checking an online estimate and establishing a property-specific market value.
“An online estimate can give you a useful ballpark figure, but it can’t always account for everything that makes an individual property different,” Mr McNulty said.
“A valuer looks at the property itself, recent comparable sales nearby and factors such as its condition, location and improvements, to form an independent assessment of market value. That becomes more important when you need to establish what a property was worth on a particular date.”
Property owners should seek appropriate valuation and tax advice based on their individual circumstances.
About us:
Opteon is an international provider of valuation, advisory, and property services, delivering technology-enabled solutions that reduce time, increase quality, and minimise errors. Founded in 2005, Opteon is recognised as the largest independent valuation professional services firm in Australia and New Zealand, and continues to expand its presence across the United States.
www.opteonsolutions.com
