3

Click here to load reader

Top 10 Factors That Affect Property Values

Embed Size (px)

DESCRIPTION

Propell National Valuers CEO Bart Mead sheds light on the top 10 factors that affected property valuations in 2011.

Citation preview

Page 1: Top 10 Factors That Affect Property Values

themortgagegalleryrockingham.com.au

© The Mortgage Gallery Rockingham

Top 10 Factors That Affect Property Values

Page 2: Top 10 Factors That Affect Property Values

themortgagegalleryrockingham.com.au

© The Mortgage Gallery Rockingham

Sound Telegraph

February 29, 2012

Propell National Valuers CEO Bart Mead sheds light on the top 10 factors that affected

property valuations in 2011.

1. Market Trends

The rising or falling of the market and the time the property has been on the market.

2. Similarity of properties

Valuers can draw on a history of local demand enabling easier assessment value.

3. The number of other properties on the market at the same time

When properties that are more comparable are available, the lowest price usually sells

first.

4. The strength of the competition

A property valuation must reflect the competing current market.

5. Unusual features

These can add value, or may detract value if not attractive to others.

6. Pricing

If the property is typical of what sells in that suburb, it is likely to experience good

demand and will sell.

7. Presentation

Maintenance, garden care, suitability and cleanliness all contribute to the value of the

property.

Page 3: Top 10 Factors That Affect Property Values

themortgagegalleryrockingham.com.au

© The Mortgage Gallery Rockingham

8. Location issues

Location factors such as bus stops, neighbouring housing and access to city roads can

impact on value.

9. Asking prices versus sale prices

Many vendors judge value on the sale prices advertised, but there is often a gap

between asking prices and actual sale prices achieved.

10. Renovation Potential

Depending on the property type and location, such capacity may be sought after or not.

Someone wanting to demolish and rebuild will not pay extra for renovations to the

existing building.