How you calculate market value for house and car in Australia is based on comparable sales, condition, location and demand, with house market value $600K to $1.2M calculated via comparable sales $500K to $1M plus adjustments, car market value $10K to $30K via RedBook and sales. For house market value, calculate via comparable sales method, looking at 3 to 5 recent sales of similar houses within 1km in last 6 months, average $600K to $800K, adjusting for size, condition, land $300K to $600K, with valuer fee $400 to $600 for formal valuation, or free via realestate.com.au estimate. For example, 3 bed house 150 sqm with 3 sales $700K, $720K, $680K average $700K, adjust for renovation $20K, market value $720K. For car market value, check RedBook, Carsales and Glass's Guide, with similar make, model, year, km, condition, average $18K to $20K for 2018 Toyota Corolla 100K km, adjusting for condition $1K. For insurance market value, insurer uses RedBook and sales data to determine market value at time of loss $18K, versus agreed value $20K fixed. So calculate market value for house via comparable sales $600K to $1.2M average of 3 to 5 sales plus adjustments, with valuer $400 to $600, for car via RedBook and Carsales comparable $10K to $30K, adjusting for km and condition.
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