Property Glossary

Market value

An estimate of a property’s reasonable value in its competitive and temporal context, considering the evidence available.

Launch price

The price at which a property is listed or proposed to enter the market. It may or may not equal market value.

Probable closing price

A range in which a transaction could complete according to evidence, negotiation, demand and property conditions. It is not a guarantee.

Comparable

A property used as a reference because of similarity in location, type, size, condition and other relevant attributes.

Micro-area

An immediate area with its own behaviour within a neighbourhood or municipality, potentially influenced by streets, views, noise, accessibility, amenities or specific building types.

Property liquidity

The expected ability of a property to find effective demand within a reasonable time and price horizon.

Market Depth

The quantity and quality of alternatives and observable demand in a defined segment.

Buyer Fit

The fit between a property and its most probable buyer profile, considering price, attributes, location and motivations.

Model confidence

An indicator of the strength of an estimate according to the amount, quality, recency and proximity of available evidence.