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Price and market evidence
Asking prices, recorded sales, comparables and why Districts does not value property.
6 guides
Asking price
An ask is a marketing figure. Test it against recorded sales and this lot’s constraints.
How to tell whether an asking price makes sense
Separate ask, guide, disclosed estimate, rejected offers and comps. Underquoting rules differ by state. Not a valuation.
Price evidence
A recorded sale is a fact. An asking price is not. An estimate is neither.
Asking price vs recorded sale: what counts as price evidence
Rank ask, guide, reported sold and recorded sale. Lag, related-party transfers and inclusions can still make a recorded price incomplete.
Comparables
Same type, similar land, similar condition, close in time. Then adjust in the open.
How to use comparable sales properly
Sort recorded sales into strong, reasonable, weak and false comps. Adjust directionally. Thin evidence is a finding, not a valuation.
Rate per metre
Land rate and building rate are different numbers. Mixing them invents a bargain.
Why price per square metre can be misleading
Name the denominator before you divide. Land rate and building rate answer different questions. Houses on suburban lots rarely suit either.
Not a valuation
A valuation is an opinion a valuer signs. A listing estimate is not that, and neither are we.
Why Districts does not provide a property valuation
A valuation is a registered valuer’s opinion on a stated basis. Districts shows labelled evidence instead. It does not compute an automated value.
Statutory land value
A valuer-general figure for rating. It is not market value and it is not the asking price.
What is statutory land value?
A jurisdiction matrix of land, site, UV, UCV, CIV, GRV and AUV. Issued for rates and tax. Not a sale-price estimate or a comparable.
Other topics
Research purposes only. Not personal financial advice, a valuation, or a planning certificate. Always speak to a licensed financial adviser before you act.