What Factors Affect A Property’s Value?
Property Location

No matter where you live, the location of your property will affect its value.

Is your property located rurally or in a city, which suburb and sometimes even which end of the street?

City or beach, park or river views, as well as proximity to local services, will also decide the property valuation. These aspects are important property value indicators.

Also, if there’s development in the area, it can affect house valuations too.

Property Age
The age of your home is one of the main factors that affect property value. 
 
Newer homes don’t always mean higher house value in Queensland, as many properties have heritage or architectural relevance that greatly impacts the valuation.
Property Improvements & Renovations

Functionality is important when it comes to choosing a home.

If your home has been renovated to feature new and more modern functionalities, it will definitely impact the outcome of the property appraisal.

If your home has recently been renovated, it’s a good idea to get a new house appraisal because you may be surprised with the difference.

Land Area
The size of the block, topography, aspect, and position of your home is another property valuation factor. 
 
Depending on if you live on a roadside corner block or a quiet street, a home with city views or waterside locations will definitely impact the value of the property.
Economic Factors
Both global and local economic conditions influence market valuations, including interest rates and financial institution’s lending policies. 
 
The economic factors that are continually changing affect activity in the market, and more often than not, increases the property’s value.