The typical value or TV for short is like a median or an average.
It is an attempt to represent as closely as possible the value of properties in a market.
The TV is not the median, which is the middle figure. Nor is it the average. The TV is calculated using maths based on a number of data sources of which the median is one.
There is not much point researching a suburb with a view to investing there if you're unlikely to
be able to afford any property for sale there. The TV gives you a quick heads up in this respect.
You can search for properties that suit your budget by specifying a range of TV values in the market matcher.
Unfortunately, the TV is not a great deal more reliable than a median value in many cases.
You may need to view recent
comparable sales to get a more accurate idea, especially in thinly traded markets.
Some alternative sources for this kind of data include: