What is a Registered Valuation?

With many online tools now providing estimated property values, you may wonder why a formal valuation is still needed.

A registered valuation (RV) is a professional and independent assessment of a property’s market value completed by a qualified registered valuer. It generally includes an on-site inspection, market research, and a written report outlining the estimated market value of the property.

Banks commonly require a registered valuation in the following lending scenarios:

• Low-deposit home loans (for example, lending above 80% LVR, including some First Home Loan applications)

• Private sale purchases where the property is being bought directly from the owner without a real estate agent involved

• Construction lending, where the valuation needs to confirm both the land value and the proposed “as complete” value of the property

• Purchases where there are limited comparable sales available in the area

• Situations where the applicant believes the property’s market value may be higher than the lender’s automated or desktop valuation

Limitations

A registered valuation reflects the valuer’s professional opinion based on market conditions at a specific point in time. It is not a guarantee of future value or future sale price.

Valuation costs can vary depending on the property type, location, complexity, and urgency required. In many cases, costs may start from approximately $1,000 + GST.

If the property being purchased includes “non-standard” chattels or items outside the typical fixtures and fittings of a residential property, the registered valuation may not take the full value of those items into consideration.

Banks will generally rely on the lower of the registered valuation amount or the agreed purchase price when assessing lending. This means that if the registered valuation comes back lower than the purchase price, you may be required to contribute a larger deposit to cover the shortfall.

The valuation process

• Engage a qualified registered valuer

• The valuer completes an inspection of the property

• Recent comparable sales and market data are analysed

• A formal valuation report is issued

The valuation process may take approximately 5 to 7 working days after the valuation fee has been paid, depending on the valuer’s workload and the complexity of the property.

Only registered valuers operating in accordance with New Zealand valuation industry standards can provide a registered valuation report acceptable to most lenders.

Last updated: 27 May 2026.