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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ups and downs of online auctions, the power of activist short-sellers, and tax time 2021.

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Steve Waters, director of Right Property Group, chats about online auctions and why they resemble “a bad Zoom meeting”, the growing resilience of the property market, and how Sydney’s lengthy lockdown could shake things up.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into short selling – the original trade that sent GameStop stock soaring – and how activist short-sellers are impacting markets.

And lastly, tax and super guru Timothy Munro talks about those early tax lodgers and possible ramifications, as well as detailing the temporary shortcut method, which you may be able to use this tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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How to determine the real value of a property

By Bianca Dabu

February 24 2021
Share

Invest

How to determine the real value of a property

By Bianca Dabu
February 24 2021

With various factors affecting market value and pricing, can one truly predict what buyers will pay for properties?

How to determine the real value of a property

By Bianca Dabu

February 24 2021
Share

With various factors affecting market value and pricing, can one truly predict what buyers will pay for properties?

Despite several forecasts of double-digit growth for Australian real estate in 2021, Raine & Horne Group’s executive chairman, Angus Raine, said that predicting market value remains an “inexact science”.

According to him, market value ultimately “depends squarely on what a specific purchaser will pay”.

Moving forward, low interest rates, economic performance and government stimulus will certainly influence growth in value, but scarcity will be one of the biggest factors that will influence market value and pricing moving forward.

“Whether the scarcity relates to the house or land size, the type of property, construction quality, unique view or location, making price predictions is challenging,” the chairman commented.

As property markets recover from the impact of COVID-19, sudden market movements, whether upturns or downturns, can influence pricing as well, according to Mr Raine.

However, he added that “this is not to say that market valuations are worthless”.

“For properties where scarcity and market movements are not in play, a real estate agent is clearly in a better position to predict buyer behaviour,” Mr Raine said.

Agents and valuers often look into buyer interest, or the number of groups inspecting the property, as well as past sales data as basis for their valuations.

Determining the ‘right price’

Apart from a range of broad factors, including scarcity, market movements and economic performance, individual buyers and sellers will also impact the final price.

According to Mr Raine, the “amount of cash at the buyer’s disposal, a property’s proximity to a buyer’s extended family, and the perceptions of the suburb or town” could affect pricing.

Similarly, the vendor’s urgency to acquire cash may influence the market value of the property just as much.

“When some of these factors, including scarcity, come into play, the value put on a property by a buyer can be affected by anything from 10 to 40 per cent.”

The ultimate determining factor for property value then, according to the executive chairman?

“An auction is the true litmus test for determining the real value of a property,” Mr Raine concluded.

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About the author

Bianca Dabu

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

About the author

Bianca Dabu

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

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