Property Sales Data Level Two

Level two characteristics  

Generally sales data level two cannot be automated and must be evaluated on desktop analysis and physical inspection.  

• Lot shape - are they all rectangular in shape or is a property irregular, with narrow frontage or rear boundary and therefore superior. 
• Slope of lot – a lot may be down sloping, difficult and expensive to develop and therefore inferior.
• Flat level block, high side of road or low side of road. A property on the high side of the road with views will be superior to a lot on low side of the road without views.
• Views of water/ocean/river/lake will be superior to views of park/reserve which will be superior to property with no views or views of other houses/suburbia. For example a property with river frontage and clear river views in Bassendean will be superior to a similar level one property with no views at all a couple of streets back in the same suburb.
• Street location or suburb location. Quality of houses in this area and in this street. Ripple effect
• Is it a quiet street in a culdesac or busy busy road eg Guildford Road. The quiet street will be superior to the busy road. 
• Or proximity to water/ocean/river eg Warnbro A similar level one type of property eg 3 bed, 1 bath B & T in Palmer street, which is close to the ocean, quiet tree lined street will have more worth (could be $50-$75K) versus a property that is east of Warnbro Sound Ave for example a property in Coronata Drive near Ennis Ave. Sales evidence will demonstrate this.
• The internal and external presentation may be similar, inferior or superior – Is the house in original condition, has it been modernised or renovated or added to eg garage, pergola/ entertaining area, workshop/shed etc etc. If it has been improved significantly it will offer more worth.
• Does the property have development potential? If it does have eg duplex development potential,  a house well positioned and can be retained with suitable side access and yard for subdivision will be superior to a property with house in middle of the lot that needs to be demolished to develop the lot.  For example in Morley similar sized lots, same zoning R20/R25, similar B & T houses of similar age, similar sized houses, similar locations eg quiet streets and so forth and so forth – the houses with the potential to retain the house will sell for $50,000 – $75,000 or more.
• So retain house property is superior and demonstrated in sales evidence. As we discussed a development potential lot with a poorly positioned house that would need to be demolished represents additional project costs like demolition costs, site works and then reconstruction costs to replace this dwelling.
• Street access – single street access from the street front or 2 street access if on a corner lot. Generally 2 street access on a corner lot will offer superior development potential to single street access.
• Other data – contact us  for further information

For further information see:

• Property Sales Data Level One
• Sales Data Analysis Sources of Statistics
• Property Listing Data Analysis
• Land Development and Data

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