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The feature, now available in the Bankwest app, uses property data from Cotality to provide estimated price ranges for homes based on recent sales activity, market conditions, and property listing characteristics.
The move forms part of Bankwest’s broader push to expand its digital banking offering, particularly around home lending and property-related customer engagement.
According to the bank, the tool is designed to help existing home owners better understand potential equity positions while also assisting prospective buyers in assessing affordability and savings goals before entering the market.
For home owners, the feature could support decisions around refinancing, renovations, upgrading, or investment planning by offering a clearer indication of a property’s estimated market value.
Prospective buyers can also use the tool to compare estimated property prices and gauge how much they may need to save or borrow for future purchases.
The addition comes as banks and lenders increasingly compete on digital functionality and customer experience, particularly as borrowers seek faster access to property insights and lending information within mobile banking platforms.
Bankwest general manager, origination & lending experiences, Frances Fattoretto, said the property section was already one of the most frequently visited areas of the bank’s app.
“The property tab is one of the most visited sections of the Bankwest app, so it made sense to build more value into it and bring useful insights to a place that customers already check regularly,” Fattoretto said.
She said the feature was intended to help customers move “from uncertainty to action” when considering buying, refinancing or renovating property.
“The new property estimates feature aims to deliver to customers fast market insights that offer a clearer view of their options when they’re having those important conversations about buying or renovating a home,” Fattoretto said.
The launch adds to a growing number of lender-led digital property tools entering the market, with banks increasingly looking to embed property search, valuation, and equity visibility functions directly into mobile banking experiences.
[Related: Bankwest eyes greater broker share through speed and technology push]
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