Technical Reference

36400  —  Technology in Valuation

Components: 3 · Property Valuation (Technical) (36000)
1

Overview

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.

2

Scope & Boundaries

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.

Scope Note

This node provides a structural overview of the technology-in-valuation sub-series as at the time of writing. The specific tool, data source, or model applicable to a given valuation assignment should be confirmed against the valuer’s instruction and prevailing professional standards governing technology use.

3

Key Concepts

Automated Valuation Models
Statistical or algorithmic models that estimate property value from historical transaction and property attribute data without the direct involvement of a valuer in each individual assessment, addressed in node 36410.
Data Sources and Market Evidence
The transaction, listing, and property attribute data underpinning both automated and conventional valuation practice, including its sourcing, currency, and reliability, addressed in node 36420.
PropTech in Valuation Practice
The broader suite of digital tools supporting valuation workflow, evidence gathering, reporting, and quality assurance, distinct from automated valuation models themselves, addressed in node 36430.
4

Regulatory & Legal Framework

  • 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.
5

Practical Application

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.

ScenarioApplicationOutcome
A lender monitors mortgage portfolio risk across a large loan bookThe lender applies automated valuation models to estimate current security values at scaleThe lender obtains an indicative, ongoing view of portfolio loan-to-value ratios
A valuer prepares a conventional valuation reportThe valuer supplements direct comparison analysis with data drawn from a third-party market evidence platformThe valuation benefits from a broader and more current evidence base
A managed fund tracks the revaluation cycle across its property portfolioThe fund applies a PropTech workflow tool to schedule, track, and quality-assure valuation instructionsThe fund maintains consistent governance over its periodic revaluation obligations

Findings are presented on the basis of data and evidence alone.