Are mortgagee sales included in the HomesEstimate calculations?
Yes. These transactions are still considered to be a reasonable estimate for the market value of properties in the area and will be included.
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What are the various Council sales types?
According to Local Government (Rating) Act 2002 all sales transactions needs to be notified to the relevant Territorial Authority (Local Council) as these sales records form part of the next Rating Valuation assessment. Also note that the sale data ...
My HomesEstimate is too low or high?
The HomesEstimate is a starting point in figuring out the true value of a house. The amount of data we have for the house affects the HomesEstimate accuracy. Price history and property facts: Check to see if your price history (the sale price and ...
Will the HomesEstimate ever change?
Yes. A team of statisticians are constantly working to make the HomesEstimate more accurate. Homes.co.nz is continually updating the approach used to estimate the value of your home, and any new sales or property information is used to update and ...
How accurate is the HomesEstimate overall?
The HomesEstimate's accuracy depends on the availability and accuracy of council and sales data in an area. The accuracy percentages are calculated by comparing our HomesEstimates to recent sales in the area. An up-to-date accuracy estimate for the ...
What's in the HomesEstimate Formula?
We use proprietary automated valuation models that apply advanced algorithms to analyse our data to identify relationships within a specific geographic area between this home-related data and actual sales prices. Home characteristics such as house ...