Automated Valuation Models
CoreLogic has multiple AVM's that provide an instant automated valuation of a property's current market value. Powered by models that have been specifically designed for the New Zealand market, our AVM's provide a robust measure in which to value properties either individually or in bulk. And with continual monitoring of accuracy and weekly testing, you can get the reassurance you need when making property decisions.
Consistent results
E-valuers are tested every week against property sales from the last six months, and CoreLogic monitors the accuracy of the E-valuer estimated values against international standards. Our E-valuer estimates need to be within 10% of the actual selling price approximately 65% of the time to be considered very good, and consistently exceed in this measure.
Our model is also tested and approved by the majority of New Zealand banks, who use E-valuer to help them make smart lending decisions.
Gauging accuracy
We are also able to calculate how accurate the AVM estimate is likely to be in comparison to the current market value by using a Forecast Standard Deviation (FSD). The FSD calculation is based on analysis of the comparable sales used by the AVM to gauge how accurate it is likely to be.
Extensive coverage
Our AVMs have coverage on more than 99% of all houses in New Zealand, approximately 99% of all flats, over 85% of all apartments, and more than 63% of all lifestyle properties.
Features
Easily and quickly determine your property price is within a reasonable range
Get greater certainty and reassurance than other measures such as sale price or Rating Value when lending against a property.
Tested weekly against every property in New Zealand, each AVM is benchmarked, tested and analysed constantly with its availability also monitored over time.
With historical AVM's available for any property for any point in time since 2000, you can easily find out previous values and see value change over time.
Related Products
