From 14 August 2026, more eligible properties may be automatically routed to SMARTval, helping streamline the valuation process across a broader range of scenarios.
Properties valued below $3 million with an LVR below 90% may now be eligible where a full Short Form valuation would otherwise have been required.
This includes expanded SMARTval availability for:
WMARTval does not require a physical site inspection. Instead, the valuer may contact your client directly by phone to collect basic property information.
If additional information is needed, your client may also be asked to upload photos through the ValAssist app.
The final valuation report will look different to a traditional Short Form report, but will contain the equivalent information required for assessment.
There is no change to how you order a valuation, and Lending Platform valuations remain unchanged. Eligible applications will be routed to SMARTval automatically.
The updated policy also includes guidance around the valuation method hierarchy and the age of validity for valuations on existing security held by the Bank.
Your Connective Lending Manager can help you understand how the updated valuation approach may apply to your client’s property and scenario.
