Low melting point salts which are often classified as ionic liquids have received significant attention from research groups and industry for a range of novel applications. Many of these require a thorough knowledge of the thermophysical properties of the pure fluids and their mixtures. Despite this need, the necessary experimental data for many properties is scarce and often inconsistent between the various sources. By using accurate data, predictive physical models can be developed which are highly useful and some would consider essential if ionic liquids are to realize their full potential. This is particularly true if one can use them to design new ionic liquids which maximize key desired attributes. Therefore there is a growing interest in the ability to predict the physical properties and behavior of ionic liquids from simple structural information either by using group contribution methods or directly from computer simulations where recent advances in computational techniques are providing insight into physical processes within these fluids. Given the importance of these properties this review will discuss the recent advances in our understanding, prediction and correlation of selected ionic liquid physical properties.