Valuations - what's a reasonable comparison property?

[MaggieMcT]

Hi all,

I am valuations obsessed at the moment! We will shortly request a full valuation for a small rear lot that we own. I am pulling together a list of comparison properties that I want to send to the valuer. I'm hoping that I can do a sanity check with you guys to make sure that I am not being totally unrealistic with the properties I choose!

So our lot is a rear strata lot, about 280 sq metres excluding driveway.

My current list of sold properties includes
(i) two lots (side by side), street front, located 500 metres from our lot - each about 330 sq metres;
(ii) then I have 4 rear strata lots, 3 settled, 1 just under contract. Three of them are about 200 sq metres, one about 400 sq metres. Two of them are about 2.5 kms from our lot, and two are (side by side lots) 4.8 kms away.

Any thoughts? In terms of address, I think one of the strata lots has a better address and is in a better school catchment area. The others are in an area that I think has a marginally better reputation (although one of the agents I rang to confirm sale prices said he thought ours was better - he knew I was not selling).

Would love to hear your views ...I am obsessing!

Maggie.

 

[jonmardell]

i would not class option 1 as comparable as they have street frontage. The rear lots in option 2 is probably the closest to yours in my opinion.

Hi all,

I am valuations obsessed at the moment! We will shortly request a full valuation for a small rear lot that we own. I am pulling together a list of comparison properties that I want to send to the valuer. I'm hoping that I can do a sanity check with you guys to make sure that I am not being totally unrealistic with the properties I choose!

So our lot is a rear strata lot, about 280 sq metres excluding driveway.

My current list of sold properties includes
(i) two lots (side by side), street front, located 500 metres from our lot - each about 330 sq metres;
(ii) then I have 4 rear strata lots, 3 settled, 1 just under contract. Three of them are about 200 sq metres, one about 400 sq metres. Two of them are about 2.5 kms from our lot, and two are (side by side lots) 4.8 kms away.

Any thoughts? In terms of address, I think one of the strata lots has a better address and is in a better school catchment area. The others are in an area that I think has a marginally better reputation (although one of the agents I rang to confirm sale prices said he thought ours was better - he knew I was not selling).

Would love to hear your views ...I am obsessing!

Maggie.