Online property value estimates, often called ‘automated valuation models’ or AVMs, provide a quick indication of potential price, but they should be viewed as a starting point only. As of December 2025, these estimates rely on algorithms analysing publicly available data like sales records and property characteristics.
Currently in Melbourne, particularly within the Eastern Suburbs – areas like Balwyn, Doncaster, and Ringwood – accuracy varies significantly. AVMs can struggle to account for unique property features, recent renovations (which are common in established suburbs), or micro-location advantages like proximity to sought-after schools or transport. In 2026, buyers continue to favour properties with excellent presentation and renovation potential, factors an algorithm can’t fully quantify. A comprehensive appraisal by a local agent, like those conducted by Fletchers, considers current market conditions, comparable sales, and the specific nuances of your property. The typical marketing campaign duration of 4-6 weeks allows agents to gauge genuine buyer interest, which is a far more reliable indicator than an automated estimate. Preparation costs, such as styling ($2,000-$8,000) and professional photography ($500-$1,500), also impact final sale price and aren’t factored into AVMs.
While useful for initial research, a professional, localised property appraisal remains the most accurate way to determine the potential value of your Melbourne property.