What factors affect a property market appraisal?

A market appraisal is completely different to a mortgage valuation as it’s carried out by your estate agent before you decide whether or not to allow them to market your home. That’s why it’s so important that the estate agent you choose to work with understands the local housing market and any issues affecting it. 

 

At Link Agency, we adopt a consultative approach to market appraisals, listening to our customers but also offering advice. We find that we win the vast majority of properties that we’re asked to give a market appraisal for, because we’re honest, transparent and realistic. 

 

Factors affecting the valuation that an estate agent gives after conducting a market appraisal of your home include its location, size, age, condition, kerb appeal, energy efficiency, market conditions, local housing supply and demand, and other environmental factors. However, it’s the sale price of other comparable properties in your area that will always be the starting point for a market appraisal. It’s primarily about what the market says, but also about what a mortgage lender accepts as being reasonable.