Valuation Report: Evaluating a Dwelling

This valuation report provides an evaluation of a dwelling in Australia, including identification and description of the house, identification of comparable sold properties, and a detailed description of the subject property. It also includes an evaluation of the subject property's value.

Valuation Report
Undertaking the
Valuation of a Dwelling

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY:.................................................................................................................................1
Identification and description of house:.......................................................................................1
Identification of comparable sold properties:..............................................................................2
Detailed description of comparable properties:...........................................................................3
Evaluating the subject property:..................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Report of property valuation or valuation of dwelling is provided to the owner of property
for indicating condition of property as well as its worth or value in market. In helps buyers and
sellers of property in assessment of its value. With the help of valuation of dwelling, price of the
house can be estimated. It is a procedure of development of opinion regarding value and price of
property (Adams, Baum and MacGregor, 2017). This report is based on property valuation of a
house that is situated in Australia. It covers identification and description of a house. Further,
three comparable or recently sold properties are identified and described in a detailed manner.
Lastly, selected subject property is evaluated.
MAIN BODY:
Identification and description of house:
Basis Property details
Discussion of zoning of
property.
Address: 2704 / 161, Corner road, Loftus street, Sydney,
Australia.
Hence, property is based on corner road of Loftus street which
is located in Sydney city of Australia.
Physical characteristics This three storey house is beautifully furnished and is designed
with the motive of providing natural ventilation as well as
adequate natural light. It incorporates European appliances and
a titled kitchen splashback (Ambrey, Fleming and Manning,
2017). House consists throughout flooring of laminate which
enhances its beauty. Front fencing is included in it along with
a letter box. This property is north facing and incorporates
three bedrooms which are well furnished. It is located in heart
of Sydney and preserves privacy as well as boutique amenity.
It is designed for the purpose of making most with the
uninterrupted view of Harbour bridge. Overall, it consists
sense of comfort, beauty as well as privacy. Focus while
making this property was on quality designing and hence,
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materials or products are selected carefully with the intention
of enhancing its texture which resulted in a redefined as well
as casual elegance. Entertainer terrace of the house is
adequately designed which enables looking out at beauty of
city. Master bedroom incorporates expansive en-suite and
walk in robe. Along with it, property pertains a swimming
pool and garden which provides a sense of luxury to this
house. This perfect combination of quality as well as
excellence offers various diversity in experience.
Contemporary architecture of house is befitted with heritage
context stands (Chirisa, and Juru, eds., 2019). Along with it,
front upper balconies are situated in every floor and design of
residence is practical as well as functional for maximising the
usage of space. Garage of this house is panel lift with remote
controlled.
External factors  This property is located in such a area which is in walk
in distance from iconic Opera house of Sydney, custom
house, contemporary art museum as well as Royal
botanic garden.
 Even ferries, light rail, buses as well as buses are at
doorstep. It is situated in opposite of a park
Macquarine place (Edwards, 2018).
 Apart from it, cafes, bars, shopping centres and dining
are at footsteps which leads to enhancement of a
comfort level of a person that is living in a house.
 While been situated in most significant as well as
renowned cultural precinct, this property is short fall
from the circular quay which enables ferry to take to
Manly in just 20 minutes of time.
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Identification of comparable sold properties:
Following are three properties which are comparable and recently sold:
Basis Centura 21 Setia Guardian
Address 8, Arora close, Caddens. 3, Capella Street, Box
Hill, NSW 2765.
14, Clearly Drive, Pitt
Town.
Area House of 47 square House of 40 square 2001 m2
Bedrooms Total number of
bedrooms are six.
Total number of
bedrooms are four.
Total number of
bedrooms are six.
Bathrooms Total number of
bathrooms are four.
Total number of
bathrooms are two.
Total number of
bathrooms are five.
Garage Total number of garage
are two.
Total number of garage
are two.
Total number of
garage are three.
Price of sale Sale price of property is
$1,170,000
Sale price of property is
$886,000
Sale price of property
is $2,425,000
Date of sale Date on which property
is sold is 19th Jan 2021.
Date on which property
is sold is 19th Jan 2021
Date on which
property is sold is
18th Jan 2021
For the purpose of identifying information related to property which is recently sold as
well as comparable in Australia, I considered website which is named as realestate.com. This
website provided all informations which are required for the purpose of conducting comparable
research which is mentioned above. I did not have to face any type of difficulty which
computation of this research due to availability of filter option in a website. This option proved
to be of great help as it sorted out all alternative on the basis on selection of area and nature of
property. Hence, I sorted options for dwelling houses which are recently sold in Sydney city of
Australia which enabled me in short-listing various properties on the basis of its price, size as
well as features. All three properties which are stated above are associated in different streets.
Hence, this comparative analysis ensured adequate examination of physical as well as
transactional characteristics that are associated with identified properties. It provides
interpretation of fair value of property.
Detailed description of comparable properties:
Comparable properties indicates that property which pertains similar features as that of
subject properties, although they are in different locations or incorporates different value in
market (Kelly, 2018). Centura 21, Setia and gaurdian are three identified properties which are
comparable as well as recently sold. Such properties are further described below in a detailed
manner:
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Centura 21
Centura 21 is located in Cadden and it can be described as a delighted property which
represents a family home that is two-story. This eelegant house incorporate total six number of
bedrooms and is perfectly designed that suits sedentary lifestyle of people. This elegant
property is perfectly proportionate as well as visually appealing. It is such as spectacular
residence which is designed to dazzle with high quality of finishing that serves as a factor of
attractive for this house (Parsons and Smith, 2017). This stylish property is abundance with
natural light and pertains huge living area. Features of this property are further explained below:
 Area of this house is 47 square meter.
 All bedrooms of house are large and incorporates covered cupboard.
 Ceilings are high.
 It consists closed veranda.
 It associates gourmet kitchen for making tempest gas cooker of 900 mm, apart from it, it
consists kitchen island chair.
 Garden of house is beautifully manicured and is well maintained which is perfect in
context to flower beds.
 Apart from it, security cameras are incorporated along with security alarms in property
which improvises safety and security of a person living in that house.
 Surroundings of property is nice as well as quite which provides soothing feeling to soul
apart from disturbing noises of city.
 Blue mountains are visible from the house.
 Ceiling fans are attached with each bedrooms.
 It pertains north-east view.
 It serves as a short guide for the shopping centre that is upcoming.
 It associates luxury upgrades as well as furnishing of contemporary design, thorough
out.
 Kitchen of house is fully equipped along with European appliances
 It is a fully furnished apartment.
 Property consists internal laundry and air conditioning of reverse cycle.
 Bathroom of a house contains Carrera marble and is spacious. Apart from it, bathroom
consists a bathtub as well as separate shower.
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Website of property: https://www.realestate.com.au/sold/property-acreage+semi-rural-nsw-
caddens-134799822
Setia:
This property is designed or built on the basis of brilliant principles along with flexible
commitments towards quality of house. This acclaimed home of Box Hill invites you for
enjoying an experience of high quality standard of living. It is built in such a way which allows
plenty of natural light in a house. It is based on very liberal land plot and hence, this house
combines four rooms that are freely priced. Master bedroom of this property consists its own
large and royal en suite bathroom which enhances your experience of walking in a bathing suit.
Apart from it, this house emphasizes key features or considerations of an elegant kitchen that
associates a stone roof along with cascading edge. Appliances of this kitchen are made of stain
less steel. Further, hanging lights are incorporated in kitchen along with an interior booth and
huge island chair with provides it a royal look to a kitchen and helps in making dining moments
wonderful as well as enjoyable (Piovesan, 2019).
This property is situated in such an area which enables near outreach to schools or parks, and
shopping malls. It provides sterile protection and huge free space which can be utilised as per
your convenience. This heavenly house can be considered as a great opportunity for a family to
occupy their dream home. Hence, it can be stated as an epitome for luxury as well as classic
appeal. Windows of house are of floor to ceiling which serves as a major reason for allowing
high amount of natural light. Apart from it, such windows provides luxury look to a property.
Other key features of a property is discussed below:
 Lawn of house is fully furnished along with a secret porch.
 Property is backed with home warrants.
 Ceilings of a house is high along with huge external entrance.
 Interior cladding of a property consists of a stone cladding which is most natural as well
as fresh looking type of cladding. It incorporate products of stimulated stones which are
regarded as light weight and is of concrete type base.
 This property pertains trough out lightning of LED , which includes lightning of ceiling
area and kitchen as well.
 Living room of the house is huge.
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 It contains two cooling belts, warnings as well as down lights.
 While considering other features of a house it can be stated that property pertains narrow
window as well as trendiest flowers.
 Water tank of house requires low maintenance and is located next to terrace.
Website of property: https://www.realestate.com.au/sold/property-house-nsw-box+hill-
134984986
Guardian:
This property is located on high side of one of the most popular street in the city, which is, Pitt
Town's. This elegant house of seventy square foot can be considered as an elegant masterpiece
which incorporates beautiful finishing and an excellent accommodation. It serves as an
emotional expression for what it feels while living in most beautiful house of city as it can be
states as Sydney's exclusive piece (Renigier-Biłozor, and et.al., 2018). Finest piece of materials
are utilised for building this property and organic textures are applied while creating this house.
It provides sensual layers for visual that incorporates luxury feelings. Along with it, house
consists grand entertainer kitchen and indulgent bathrooms. It showcase luxury which is of
international standard. It can be noted that world class amenities are provided in this residence
which also includes a wine storage and a library. As encouraged by tutors or actors, a live play
is incorporated in a house and it also consists a wet bar which is fully equipped which is
situated away from bedrooms. Even there is a open space outside a house which can be utilised
for the purpose of relaxation. Large and green courtyard ensures providing plenty of area which
facilities playing activities of children. There are four rooms of dominance size which features
liberty of coordinating storage which is around basic bathroom that is stunning (Warren, Elliott
and Staines, 2017). The location in which property is situated offers access to famous
Hawkesbury river, even schools, Windsor as well as Rouse hill. Following are some essential
features that is associated with property:
 Property is built on a large area of 2001 square meter along with access of large side and
boat parade as well as a storage shed.
 Exceptional facilities are available.
 Separate back office is available at home and independent legal services are provided.
 'Polding college' is locate at walking distance from the house.
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 Large accommodations are provided which includes youth retirement and a home
performance centre along with closed shadows as well as raised seats.
 Facility of duct cooling is available in the house.
 Total number of CCTV cameras that are incorporated for security of property is four.
 Other available features of the property involves ceilings of height 2.7m, doors of
standard 2.44m and an attention panel.
Website of property: https://www.realestate.com.au/sold/property-house-nsw-pitt+town-
134787126
Evaluating the subject property:
Key features of
property
Centura 21 Setia Guardian
Area of property 1950 square meter 1600 square meter 2001 square meter
Comparing among
properties
The area of land which
is associated with this
property is large or
superior in comparison
to property which is
previously selected.
Hence, the house can
be stated as superior.
While interpreting it
can be concluded that
land area in context to
property named as,
'Setia' is low or
inferior in comparison
to property that is
selected previously.
The area of land of
Guardian property is
superior as compared
to property which is
selected previously.
House House of 47 square House of 40 square 2001 m2
Evaluation of entire
property
This property consists
six bedrooms, two
garages and number of
bathrooms that are
incorporate in it are
four.
It incorporates four
bedrooms, along with
total number of two
bathrooms and total
number of garages that
are associated with
this property are two.
Total number of
bedrooms in this house
is six. Apart from it,
there are total number
bathrooms and total
two garages are
provided with this
property.
Interpretation Overall, it can be
stated that 'Centura 21'
is better and superior
while comparing it
with other properties
than are previously
selected.
While interpreting
level of superiority of
all properties which
are selected it can be
concluded that 'Setia'
is inferior in context to
its comparison with
another competitive
On interpretation, it
comes up that features
of Guardian is better
and superior in
comparison to another
properties that are
selected previously.
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properties.
CONCLUSION
On the basis of above analysis it can be concluded that property which is selected is
cheaper, inferior as well as smaller in comparison to other two properties which are researched.
But, while considered features of the selected property it can not be ignored that house is situated
in an area which is at walk in distance from custom house, opera house, royal botanic garden and
contemporary art museum of Sydney. On consideration of secondary locations, property is
located near meditation parks and gym centres. Apart from it, environment of selected property
is peaceful. All these features enables option of getting mortgage loan which starts which $4,500
at instalment of per month and token money for it is $150,000.
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REFERENCES
Books and Journals:
Adams, C. D., Baum, A. E. and MacGregor, B. D., 2017. Land Prices and Land Availability in
Inner City Redevelopment. Managing the City: The Aims and Impacts of Urban Policy,
p. 154.
Ambrey, C. L., Fleming, C. M. and Manning, M., 2017. The social cost of the Black Saturday
bushfires. Australian Journal of Social Issues. 52(4). pp. 298-312.
Chirisa, I. and Juru, M. E. eds., 2019. Aspects of Real Estate Theory and Practice in Zimbabwe:
An Exploratory Text. Langaa RPCIG.
Edwards, J. R., 2018. A history of corporate financial reporting in Britain. Routledge.
Kelly, E., 2018. Dwelling in the Age of Climate Change: The Ethics of Adaptation. Edinburgh
University Press.
Parsons, G. and Smith, T., 2017. Council Tax Handbook. CRC Press.
Piovesan, K., 2019. Valuing Land: Welfare State Disinvestment, Inclusionary Zoning, and
Justice (Doctoral dissertation, University of Oregon).
Renigier-Biłozor, M., and et.al., 2018. Forced sale discount on property market–How to assess
it?. Land use policy. 78. pp. 104-115.
Warren, C. M., Elliott, P. and Staines, J., 2017. The impacts of historic districts on residential
property land values in Australia. International Journal of Housing Markets and
Analysis.
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