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I think it's great that there's a website that lists public property estimates, but I swear the estimation algorithm is rigged.
A property we're looking at was estimated at 1.5M mid price 2 weeks ago, and now it's listed at 1.6M. Absolutely ZERO sales activity within a 2km radius over those two weeks to back this growth up.
I think it's great that there's a website that lists public property estimates, but I swear the estimation algorithm is rigged.A property we're looking at was estimated at 1.5M mid price 2 weeks ago, and now it's listed at 1.6M. Absolutely ZERO sales activity within a 2km radius over those two weeks to back this growth up.
Absolute joke of communication and reliability if information. They have mixed my property up with another address and put mine as sold when it was another property. I've emailed several times including their mother company REA. Zero response. Don't trust their information on ANY property.
Rubbish. I emailed them about the valuation for my property as i've just spoken to our bank who has got a company doing the valuation and are also using many other data sources including core logic.. Our house is value $400k more than the valuation on property.com.au. The result on propertyvalue.com.au is indeed better represented. I have emailed property.com.au and complaining about it and they have done nothing but to insist their algorithm being right. what a misleading website!!!!
As a real estate professional of over 45 years this is the most inaccurate site I and my scores of colleagues have encountered. DO NOT rely on any of their price estimates. They simply base their estimates only on prior Sold prices - but don't take account that many properties have been totally renovated and hundreds of thousands of dollars spent in improvements. A kindergartener could estimate more accurate current prices.
BEWARE. Property.com is a scam. I feel like it work with realestate.com.au. So that when a listing goes on sale they change the estimated price to push the price up. Even though a month ago the estimate was like 150k less. Also they say no flood detected on that property. You get the contract of sale and found it is in a flood zone. What a load of ruxxish this site is. Beware everyone not to use it as a reference. Massive tool for the real estate agents to lie and make you feel as if you are paying a fair price
Completely false information!! States we purchased our home for over $250000 less than we paid (also false purchase prices for other sales of the property) and also states its a 1 bedroom when its a 5 bedroom (and always has been since it was built in 1970). When I looked further into this site, every single property I looked up was absolutely false information!!! NOT GOOD ENOUGH!! IF YOU ARE NOT SURE THEN KEEP IT OFF THE SITE!!!
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