iVal Terms & Conditions of Use
Valocity’s iVal™ is the estimated current market value of a property. The iVal is formed from an analysis of the latest market sales data of comparable properties and collated by Valocity Limited (Valocity). The calculation incorporates property details as well as attribute characteristics, however it does not include a physical inspection of the property.
An iVal does not represent future market value. Estimated values are calculated using the following sources: Council data, local sales data, property attribute data and Valocity generated data.
While all reasonable endeavours have been taken to ensure the accuracy, completeness and currency of the information included in the estimate, as at the time of issue, Valocity does not accept liability for any errors or omissions.
The Valocity iVal is designed to for use on standard improved freehold residential and lifestyle properties. Examples of standard properties include dwellings, flats, apartments, and lifestyle properties. Examples of a nonstandard properties are a residential property containing multiple dwellings, a vacant site or a non-residential property type e.g. Commercial, Industrial or Agricultural.
An iVal may not be available or may differ from the expected value if:
- The property is in a location where there are insufficient comparable sales to make an accurate assessment
- The property has unique characteristics and there are insufficient comparable sales to make an accurate assessment
- The Rating Value does not include an Improvements assessment
The property information contained within the iVal is not intended or designed to replace a Full Market Valuation. The value estimate does not consider the physical condition of the property, special risks or if there are unknown unique or rare features.