Keeping your property values and growth forecasts up to date is essential for tracking your investment performance, understanding your equity position, and making informed financial decisions. With CoreLogic integration in TaxTank, you can update both your property’s market value and growth percentage at the same time using the latest data.
When should you update your property values?
CoreLogic provides monthly market data updates, allowing you to refresh your property values as often as needed. Here are some key times to update:
Regular Check-ins (Monthly, Quarterly, or Annually): To stay informed on market trends, update values based on CoreLogic’s latest data.
Before Refinancing or Borrowing: Updated property values and growth forecasts help assess your equity position when applying for loans.
After Major Market Shifts: If the property market in your area experiences significant changes, it’s a good idea to refresh your values.
Following Renovations or Improvements: If you’ve enhanced your property, updating the value ensures an accurate reflection of capital growth.
How to update your property market value and growth forecast in TaxTank
You can update both market value and growth percentage at the same time using CoreLogic’s data. Here’s how:
Select the Property Tank, and then the property you want to update.
Select the Equity tab, and then click “Update Market Value” to fetch CoreLogic’s latest valuation data.
Choose how to update the value:
Market Value: Use CoreLogic’s estimated valuation and confidence range by adjusting the sliders, or manually enter your own value if you have specific insights.
Growth Forecast: Apply CoreLogic’s market trends or customise the forecast by adjusting the slider to match your expectations.
Save changes, and your property value and growth percentage will be updated together.
🚨 Note: CoreLogic’s valuation uses real-time market data, but if your property has unique features or recent renovations, you may want to manually adjust the value to better reflect its worth.
How often you can update your property values
CoreLogic market data is updated monthly, meaning you can only refresh your property’s automated valuation once per month. However, you can manually update your property value and growth forecast at any time.
How it works;
CoreLogic Updates: If you try to refresh your property’s value before the next CoreLogic update is available, TaxTank will display the date of the next scheduled update.
Manual Updates: If you need to adjust your property value sooner, you can enter a new market value manually and update your growth forecast as needed.
What if CoreLogic data is not available?
In some cases, CoreLogic market data may not be available for your property. This can happen for several reasons:
Limited Sales Data: If your property is in a remote location or has had very few comparable sales, CoreLogic may not have enough data to generate a reliable valuation.
Newly Built or Off-the-Plan Properties: If your property is newly constructed or hasn’t been previously sold, CoreLogic may not yet have market insights available.
Unique or Uncommon Property Types: Properties with unique features or specialised zoning may not fit into CoreLogic’s standard valuation models.
Data Access Restrictions: Occasionally, certain property records may be restricted or unavailable due to CoreLogic’s data sources and agreements.
How to enter your own market value
If CoreLogic data isn’t available, don’t worry, you’ll still be able to update your property value manually until it does become available. Instead of an automated valuation, you’ll see a manual entry field where you can:
✅ Enter your own market value based on your research or professional valuation.
✅ Set your own growth forecast using the slider to reflect expected market trends.
Keeping your property data up to date ensures you always have an accurate picture of your investment’s performance. If you have any questions, feel free to reach out to our support team! 🚀