Bankwest has introduced a property estimates feature in its mobile app, providing customers with estimated price ranges for residential properties.

The tool is intended to support both existing homeowners and prospective buyers in assessing their financial position.

The feature draws on property data supplied by Cotality, incorporating sales data, market conditions and listing characteristics to produce possible price ranges. Customers can use this information to gauge the potential value of their current home or properties they are considering purchasing.

For existing homeowners, the tool offers an indication of equity position, which may inform decisions around refinancing, investment or renovation. For those looking to buy, it provides a means to assess affordability and inform savings targets.

Bankwest said the property tab is among the most frequently visited sections of its app, which informed the decision to expand functionality in that area.

Frances Fattoretto of Bankwest. The property estimates feature adds to a growing range of in-app experiences that help customers manage their money easily and hit their property goals," said Frances Fattoretto (pictured right), general manager origination and lending experiences at Bankwest.

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.

Access to property intelligence helps make it easier for customers to move from uncertainty to action, whether they're thinking about using their equity or planning their next purchase. 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.