3AW Breakfast callers trial the online property price guides

It may well be one of ‘Australia’s greatest sports’ to guess the value of your home.

And now there’s apps online that give you a price on your house’s worth by typing in your address.

3AW Breakfast tested the accuracy of Domain and RealEstate.com.au’s price guide with callers.

Using the apps, Ross and John gave listeners from Laverton, Doncaster and Mount Martha a ballpark figure. 

But Steve Abbott, director and auctioneer with Jellis Craig, said the apps were a bit of fun, but counselled against taking the valuations too seriously.

He said the apps couldn’t take into account heritage overlays, renovations and other features that influence the price.

Mr Abbott agreed with Ross, that it was one of the ‘greatest sports’ to find out the value on your property.

‘It’s a dynamic market, what things are worth,’ he said.

‘We are always intrigued by what things could be worth, it’s emotive, objective.

‘It’s a bit like Dr Google, you certainly go do some research.

‘But you don’t back your major asset in life on the basis of an algorithm.

‘Do the research it’s good fun, (but) you’ve got to seek some independent advice.’

LISTEN: 3AW Breakfast callers trial the online property price guides