In the housing market, every home is different and property valuations can change over time. Here’s why we ask for a property valuation when you’re buying a home or refinancing.

In the housing market, every home is different and property valuations can change over time. It’s why we’ll often ask for a property valuation when you’re buying a home or refinancing a loan with us.

We use it to make sure the value of the property you’re using as security for a home loan, is enough to cover the amount of your loan. It also helps us check that we’re always lending money responsibly.

What we’re looking for

Depending on your home loan application, we may ask a qualified valuer to inspect your property either internally or externally from the street to determine your property’s market value. They’ll be looking at things like:

  • general location
  • council zoning
  • overall size and number of rooms
  • vehicle access to the property
  • building structure and condition.

Put simply, it’s the amount of money your property could be sold for without too much hassle. This valuation will then help to determine your borrowing capacity for a home loan.

How to find the market value of your home at any time

If you’re interested, you can get a free property report from NAB Property Insights to generate an estimated market value of your property. Remember though – it’s not an exact science and the market value is just a guide of what your property may be worth. We also have lots of other online tools – including our loan repayment calculator and stamp duty calculator – to help you figure out your next move.

We’re here to help along the way.

From understanding your borrowing capacity, to helping you make your property goals a reality, we’re here when you need us.

You can get in touch by calling 13 78 79, stopping by your local NAB branch or making an appointment with one of our mobile bankers. If you’re ready, you can also apply online for a home loan right now.

Important information

The information in this article is of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it’s appropriate for your circumstances. NAB recommends you seek independent legal, financial, and taxation advice before acting on any information in this article.

(c) National Australia Bank Limited ABN 12 004 044 937, AFSL and Australian Credit Licence 230686.

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