To the Valuers: Do valuation outcomes vary by time of year?

Hi There,

A question for the valuers out there.

Assuming an average year, have you found any relationship between the time of year and the impact on a property's valuation? If so, is there a time of the year where one should target having a valuation done if looking to draw out equity?

 

Nope.

 

Haha can you imagine if this were the case "My property is worth $500K in Summer but only $450K in winter"

 

Effects of seasonality in Australian house and unit prices

 

Valuers look to the last 6 months for comparable sales.

 

Unfortunately banks don't have as much leeway in when to decide on foreclosing and when to list so the value is what it's worth at a point in time vs the sales price is what someone is willing to pay on the day based on the influence exercised by the agent.

 

And? To answer your question - valuations aren't affected by seasons.

There are better times of the year to sell (most agents will tell you they get busy in the Spring time 'buying season') although the variations in the article you linked are minimal.

 

Valuations are based on recent sales.

Based on the fact that sales pick up during spring and grow as the weather gets better due to more people out about and keen to improve/grow their situation and lifestyle, maybe there is a possibility that a property could be valued higher late spring/early summer

But waiting for a valuation could be detrimental
As you could have bought something far cheaper 3 months earlier
If you are struggling that much on serviceability you probably shouldn't be buying......