How much is your home worth in today's market?

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OpenEstimates FAQ's

At OpenAgent we know that no-one knows your property as well as you do, and no mathematical algorithm is going to account for the unique features or condition of your property. Property estimates are simply better when these characteristics are taken into account, so we calculate the value of your property by combining the the latest market data with your unique knowledge - and that’s how our online property value estimator is different!

We'll ask you to assess the condition of your property in comparison with others that have recently sold in your area in order to provide you with an estimate of your property. The best thing about this is the tool is absolutely free to use.

While we try to ensure your property estimate is as accurate as possible, a large component of that estimate is driven by available data drawn from property databases. The better the model and data used, the more accurate the value is likely to be. But if the property information is thin, the estimate could be slightly off what you were expecting.

To ensure we account for your expectations, we always display an estimated value range, which takes into account the lower range for properties like yours, as well as the higher range for similar properties. It’s important to understand that an online estimation is a home price guide only - property price predictions are estimates, not valuations.

If you’re considering taking your property to market, we always recommend getting an appraisal from a local real estate agent (house appraisals are free). If you’re refinancing, a professional bank valuation for your property will be necessary.

Ever wondered ‘What’s my house worth and how has that changed over time?’ Well, when you use OpenEstimates to get a property value estimate, we not only give you an indication of what your property is worth, but we also give you a free comprehensive report of your property’s value history, suburb trends and statistics and a timeline of rental and sales activity for the property in question.

If you’re wanting to find out the value of your property, there are some clear differences between an online property estimation, a property appraisal and a house valuation. An online estimation is a good way to get a rough idea of what your home might be worth, especially if you’re about to meet with agents.

A property appraisal is done by a real estate agent. The agent will take a look at your property and compare it to the results and condition of recently sold properties in the area. Their appraisal is based on the condition of your home and how the local market is performing for properties just like yours.

A property valuation is generally more formal as this figure is often relied upon by financial institutions such as banks and insurers. A valuation will take things like location, nearby amenities, local infrastructure, structural condition of the property, visual appeal, local zoning restrictions and more to give an accurate value of what your property is currently worth.

If you’re wanting to impact what your house is worth, the good news is, there are a few different projects you can undertake to do this. Generally if you’re selling small cosmetic renovations may do the trick, but if you’re wanting to improve the value of your home in the long term, it might be wise to undertake bigger renovations like complete bathroom and kitchen renovations.

Wondering what would improve your sale price? Speak to a local agent to understand what buyers are looking for in your area.

Not yet, but it has been adapted for seamless mobile browsing, and you can access it at any time.

All your property information stored in one place

OpenEstimates - Property Profile Example

Your OpenEstimate

$960k 3%

Median house price

$1.7m 15%

Properties sold

22

Median rent (p/w)

$860

Meet your property profile

Your Property Profile is packed with useful information to stay up to date with your local market.

  • Track your property’s value over time
  • Stay current with suburb and market trends
  • Access past sales in your area

Get notified when a comparable property sells nearby

You’ll be the first to know when comparable properties are sold. Come back, compare it and refine your estimate.

OpenEstimates - Comparable Property Example Get started

*OpenAgent AVM Estimate

The price estimated is a computer generated analytic and is influenced by the information you choose to provide (Estimate). The Estimate may vary substantially from any property price actually realised by a professional real estate agent or valuer of real estate property, and as such, the Estimate must not be construed as or relied upon as a professional appraisal or valuation. Depending on the unverified information entered, an estimate is generated by using a mathematical model that relies on limited available data. Such data may not be current, accurate or complete, and does not factor in the physical features and condition of the subject property, any market conditions (local or otherwise) or your personal circumstances. These factors may affect the market value of the subject property.  To the full extent permitted by law, OpenAgent expressly excludes any liability for any loss or damage howsoever arising suffered in connection with your use of or reliance on the Estimate, as well as any warranty or representation that the Estimate or any service provided by us in connection with the Estimate will produce results that are accurate, reliable, complete, sufficient, up to date, suitable for your requirements or fit for the purpose you intend to use it for.    You accept sole risk and responsibility for all decisions you make in connection with, or in reliance on, the Estimate.

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Get an estimate by comparing your property to 3 recent sales

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This property actually sold for $880,000