NSW Norwest - Vacant land- Recent sales

Discussion in 'Property Analysis' started by karthik.s, 30th Apr, 2021.

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  1. karthik.s

    karthik.s Well-Known Member

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    karthik.s, 30th Apr, 2021
    #1
  2. Trainee

    Trainee Well-Known Member

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    Considering the completed houses are pushing 3m, do you think the land value general guideline reflects market value?
     
    Trainee, 30th Apr, 2021
    #2
    Never giveup likes this.
  3. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Valuer General values bear little to no relationship to true market. They are outdated (1 Jly is almost a year ago) , they are averages using a mass valuation process

    Home - Valuer General of New South Wales
     
    Paul@PAS, 3rd May, 2021
    #3
  4. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

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    The bank will value it it based on co.parable sales and market movement.

    However these buyers might be cash buyers, or large deposit buyers in which a bank valuation won't matter.
     
    Tony Xia, 4th May, 2021
    #4
  5. Never giveup

    Never giveup Well-Known Member

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    Screenshot_20210502-162322.png
     
    Never giveup, 5th May, 2021
    #5