Off plan apartment valuations

Discussion in 'Investment Strategy' started by Matt87, 27th Mar, 2018.

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  1. Matt87

    Matt87 Well-Known Member

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    hi guys,

    What is a typical valuation on off plan apartments or does it depend on what state and location etc?
    Usually 5-10% off sold price or usually same?
    Matt
     
  2. The Y-man

    The Y-man Moderator Staff Member

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    Depends....on a lot of things.
    What's the context?

    The Y-man
     
  3. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    Hi @Matt87

    Are you asking if the valuation stacks up?

    It just depends if there are comparable sales, supply and demand, market sentiment etc - valuers tend to look 'backward' when the market is rising, and look 'forward' when the market is declining.
     
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  4. Colin Rice

    Colin Rice Well-Known Member

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    Can be higher or lower depending on the market forces in the area you purchased in.

    Some get a lower val due to overpaying which is more common in my experience and some get a higher val due to picking or getting lucky with the current property cycle relevant to that particular location.
     
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  5. Matt87

    Matt87 Well-Known Member

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    I am mainly trying to understand what they look for. I have a apartment settling in May and just wondering what they look for. I have heard mixed reviews around valuations. But it would depend on market as you said.

    Matt
     
  6. Colin Rice

    Colin Rice Well-Known Member

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    The valuer will need "comparable sales" of similar properties in the area or better still of properties within the same complex that have already settled. Likely they will go with the former if it is a new complex.