Which valuation method is most commonly used for residential property?

Property valuers typically use the comparison method to produce a valuation for a residential property. They look at sales figures for similar homes in the area that are the same size and condition. The valuer will look at the property, it’s condition and location, and compare it to other properties locally. Various factors are analysed and adjusted, from which the valuer can produce an accurate market value. This method is reasonably accurate if the current market is stable and there is a lot of data available. It it less accurate when the property is unique and the market is unstable.