Most homeowners have seen their CV, the capital value from the council. It's tempting to treat it as the value of your home. It's a helpful reference, but it's not what the market will pay.
What a CV actually is
A CV is a rating valuation carried out for the council. It's used mainly for setting rates. It's done in bulk, from a set date, and generally looks at your property from the outside, without the detail a buyer notices.
Why it can differ from the market
- It's based on a past date, while the market moves
- It usually doesn't account for renovations, condition or presentation
- It can't capture what makes your home special, like a great view or a quiet street
- Buyers pay what they're prepared to pay on the day, which can be higher or lower
What an appraisal does differently
An appraisal looks at your actual home, including its condition, features and what similar properties nearby have recently sold for. It reflects today's market and today's buyers.
Where the CV is useful
It's a handy starting point and gives a rough sense of where your property sits. Just don't rely on it as your asking price.
Quick tip
Want to know what your home could achieve? A free appraisal or property snapshot is a much better guide than your CV.
This is general information only, not legal, financial or building advice. Rules and market conditions change, so check the details with your lawyer, lender or the relevant authority before making decisions.
