Interpreting Current Value of Homes

[Boltalicline]

First time poster and newish to investing. Am currently looking to invest in a property in Melbourne.

Quick question: With property prices rising significantly, and numerous homes going well beyond reserves, even in areas many would less expect, how are people interpreting the current market value of an individual property beyond the typical and traditional methods of past?

I've usually used the figure provided by the agent as a general ball park price but these days you could almost add 100-200k min on top of what is advertised.

How are people interpreting current market value in this climate?

Thanks for your help

 

[Big Will]

Look at comparable properties.

End of the day a property is only worth what someone is willing to pay and the other person willing to accept.