Technology in Valuation

Node 36400 addresses the role of technology in Australian valuation practice, covering automated valuation models, the data sources and market evidence underpinning both automated and traditional valuation, and the broader adoption of property technology tools within valuation practice. Technology increasingly supplements, though does not replace, the professional judgement of a registered valuer applying the methodology and standards addressed elsewhere in this series.

The series is organised into three sub-series, each addressed in a subordinate node: automated valuation models, covering statistical and algorithmic tools that estimate property value without the direct involvement of a valuer in each individual assessment; data sources and market evidence, covering the transaction, listing, and property attribute data underpinning both automated and conventional valuation practice; and PropTech in valuation practice, covering the broader suite of digital tools supporting valuation workflow, reporting, and quality assurance.

This node serves as a navigational and definitional entry point for parties requiring an understanding of how technology is applied within Australian valuation practice, directing the reader to the more detailed subordinate node addressing each component.

This node addresses the structure of the technology-in-valuation sub-series and the general proposition that technology tools supplement rather than substitute for professional valuation judgement. It does not itself set out general valuation methodology, addressed in node 36100, or the professional standards and reporting framework applicable across all sectors, addressed in node 36200.

It does not address property technology tools used in property management or transaction processes generally, addressed in APN’s separate property management content, nor broader market data analysis conducted independently of an individual valuation assignment.

• ANZVGN guidance notes on the use of automated valuation models and technology in valuation practice

  Australian Property Institute & Property Institute of New Zealand

  Provide guidance on the appropriate role of technology tools within a professional valuation.
• Privacy Act 1988 (Cth)

  Office of the Australian Information Commissioner

  Governs the collection and use of property and personal data underpinning valuation technology tools.
• National Consumer Credit Protection Act 2009 (Cth)

  Australian Securities and Investments Commission

  Is relevant to the use of technology-derived valuation evidence in connection with regulated residential mortgage lending.

Technology tools are applied across a range of valuation and portfolio-monitoring contexts, each subject to the professional judgement of a registered valuer where a formal opinion of value is required.