Data Sources & Market Evidence

36420 — Data Sources & Market Evidence

Technology in Valuation (36400)

Overview

Node 36420 addresses the transaction, listing, and property attribute data underpinning both automated and conventional valuation practice in Australia. The reliability of any valuation opinion — whether prepared by an individual valuer or generated by an automated valuation model — depends materially on the quality, currency, and verification of the underlying market evidence.

Settled sales data, drawn primarily from state land titles or Valuer-General registries, represents the most reliable evidentiary basis for a valuation, recording completed, unconditional transactions. Listing and asking-price data, by contrast, reflects vendor expectation rather than a confirmed outcome and requires more cautious interpretation. Commercial data aggregation platforms compile, cleanse, and distribute data drawn from these and other primary sources, supporting both individual valuers and automated valuation model providers.

This node is intended for valuers, automated valuation model providers, lenders, and other parties relying on property market data, applying the general methodology addressed in node 36100 and the professional standards addressed in node 36200 to the sourcing and verification of market evidence specifically.

Scope & Boundaries

This node addresses the types, sourcing, and reliability of data underpinning Australian property valuation. It does not address the modelling techniques applied by automated valuation models to that data, addressed in node 36410, or the broader suite of digital workflow tools used in valuation practice, addressed in node 36430.

It does not address general valuation methodology in the abstract, addressed in the 36100 sub-series, or the professional standards and reporting framework applicable to all sectors, addressed in the 36200 sub-series.

Scope Note

This node describes the general categories and reliability considerations applicable to property market data as at the time of writing. The specific data source and verification standard applicable to a given valuation should be confirmed against the valuer’s instruction and applicable professional standards.

Key Concepts

Settled Sales Data

Data recording completed, unconditional property transactions, typically sourced from state land titles or Valuer-General registries, considered the most reliable evidentiary basis for a valuation.

Listing and Asking Price Data

Data recording properties currently or recently marketed for sale, useful as an indicator of current market sentiment but distinct from, and generally less reliable than, settled sales evidence.

Data Aggregation Platforms

Third-party commercial platforms that compile, cleanse, and distribute property transaction and attribute data drawn from multiple primary sources for use by valuers and other market participants.

Data Currency and Verification

The process of confirming that market evidence reflects genuine, arm’s-length transactions and remains sufficiently recent to be relevant to the valuation date.

Regulatory & Legal Framework

Real Property Act

State land titles registries

(state-based, for example the Real Property Act 1900 (NSW) and equivalent Torrens title legislation in other states) governs the settled sales data that forms the primary source of property transaction evidence.
Privacy Act 1988 (Cth)

Office of the Australian Information Commissioner

Governs the use of property and personal data drawn from aggregated data sources.
ANZVGN guidance notes on market evidence and data sources

Australian Property Institute & Property Institute of New Zealand

Provide guidance on the appropriate sourcing and verification of market evidence.

Practical Application

The reliability of a valuation depends on the source, currency, and verification of the market evidence it draws upon.

Scenario	Application	Outcome
A valuer sources comparable sales for a direct comparison valuation	The valuer confirms settled sales data via the state titles registry or a commercial data aggregator	The valuation is supported by verified, arm’s-length transaction evidence
A data provider compiles a national sales dataset for an automated valuation model	The provider sources and cleanses settled sales and listing data from multiple state registries	The model is calibrated on a consistent, verified national dataset
An investor reviews market evidence for acquisition due diligence	The investor cross-checks asking price and listing data against confirmed settled sales in the area	The investor forms a more accurate view of likely transaction price