NSW Why is this land value so low?

Discussion in 'Property Analysis' started by katXie, 4th Sep, 2018.

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  1. katXie

    katXie New Member

    Joined:
    4th Sep, 2018
    Posts:
    1
    Location:
    Sydney
    ADDRESS OF PROPERTY: 37 ARCHER ST,
    BURWOOD NSW 2134

    DESCRIPTION OF LAND: B/302582

    PROPERTY AREA: 562.8 SQUARE METRES (FROM PLAN)

    PROPERTY DIMENSIONS: 9.144 / 9.144 X 61.874 / 61.874

    VALUING YEAR: 01/07/2017 DATE VALUATION WAS MADE: 29/08/2017

    ZONING USED FOR VALUATION: LOW DENSITY RESIDENTIAL

    LAND VALUE AUTHORITY: 14A(1) - ANNUAL REVALUATION

    GROSS LAND VALUE: $1,530,000

    -------------------------------------------------------------------------------------------------------------------
    ADDRESS OF PROPERTY: 34 ARCHER ST,
    BURWOOD NSW 2134

    DESCRIPTION OF LAND: B/323353

    PROPERTY AREA: 351.1 SQUARE METRES (CALCULATED)

    PROPERTY DIMENSIONS: 12.8 X 27.43

    VALUING YEAR: 01/07/2017 DATE VALUATION WAS MADE: 29/08/2017

    ZONING USED FOR VALUATION: LOW DENSITY RESIDENTIAL

    LAND VALUE AUTHORITY: 14A(1) - ANNUAL REVALUATION

    GROSS LAND VALUE: $1,500,000

    DIVISION 3 AND 4 ALLOWANCES: NOT APPLICABLE

    NET LAND VALUE: $1,500,000

    LAND VALUE BASIS: 6A(1) - THE LAND VALUE IS THE FREEHOLD VALUE OF
    THE LAND EXCLUDING ANY STRUCTURAL IMPROVEMENTS
    -------------------------------------------------------------------------------------------------------------------

    Google maps link to area:

    Google Maps


    No.34 is directly opposite No. 37. Other properties on same side of no.37 are also of lower valuations. I've looked at sewer diagrams and can't see anything out of ordinary. No concessions/allowances listed with valuergeneral.
     
  2. OldMelbDeveloper

    OldMelbDeveloper Member

    Joined:
    31st Aug, 2018
    Posts:
    10
    Location:
    Caufield
    I don’t know this area, but that zoning require# a minimum block size of 400sqm, so neither block can have anything but a single dwelling, that would account for the prices being so similar despite 34 being quite a bit more land.
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,103
    Location:
    Sydney or NSW or Australia
    Other easements or affectations? @OldMelbDeveloper may well be on the money - no incremental increase on highest and best use of the land.
     

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