Market Valuation Report Using the Sales-Comparison Method for an Ongoing Property Development Project

For this assignment, use the sales-comparison valuation method to estimate the value of the chosen site (115/55 Currong Street, Braddon ACT 2612) for the ongoing property development project. The assignment involves:

1. Providing relevant comparable sales properties.
2. Conducting research into the sales-comparison valuation method to understand its application.
3. Justifying the value of the chosen site by presenting a detailed valuation report.

To complete this assignment, you will need to fulfill the following components:

1. Identification of Comparables:
   This information is provided in detail in the Assessment Paper, which includes the table format and additional guidelines.
   
2. • Conduct research to find four comparable sales properties as similar as possible to the chosen site. Comparables should ideally have been sold within the last 6 months.
   • Provide pictures of the properties where possible and complete a table for each of the four comparables and the chosen site. The table should include the following fields:
   • • Sold Price
     • Size of building (sqm)
     • Size of erf/stand (sqm)
     • Number of bedrooms
     • Number of bathrooms
     • Parking
     • Date sold
     • Address
     • Additional features
       
   • For the chosen site, provide the asking price if sold data is unavailable and leave the “Date Sold” field blank.
   • Justify the choice of comparables, explaining their relevance and accuracy.
3. Market Valuation Report (600 words max):
   
4. • Conduct further research into the sales-comparison valuation method and combine this with the notes and the identified comparables to estimate the market value of the property.
   • Write a summary report, no longer than 600 words (excluding references), that defends the market valuation. The process and factors considered must be clearly explained.
   • Include the following key points (as specified in the assignment document):
   • • Briefly evaluate the macro economy and explain its impact on the valuation, if any.
     • Briefly evaluate the local area and property market and explain their impact on the valuation, if any.
     • Explain what motivated your choice of comparables and why they are the most accurate comparables.
     • Highlight the sources of information that were most useful for your valuation.
     • Discuss the features of the property that caused you to increase or decrease its value.
     • Detail the adjustments made in the valuation, including specific amounts or percentages where applicable.
     • Provide the final market value of the property based on the sales-comparison approach.

Refer to the following provided documents:

• Assessment Paper: Includes direct questions, a table for the chosen site and comparables, and detailed instructions for the report.
• Referencing Format and Notes: For citation and to incorporate relevant learning materials.
• Previous Assessment Paper: To ensure continuity and alignment with the ongoing project.

Ensure the report is concise, original, and adheres to APA 7 referencing format.