115A Normandale Road 115a Normandale Road | Page 26

Reconciliation of Sales Evidence Address Sale Date Sale Price $ Rating value $ Site Area m2 Floor Area m2 12h City View 68 Oakleigh 85 Cypress 100 Viewmont 36 Meadowbank 07/19 08/19 07/19 05/19 05/19 675,000 741,800 786,000 935,000 1,025,000 510,000 570,000 620,000 710,000 860,000 1025 639 786 2954 1109 130 120 190 200 225 Bdrms 3 4 4 4 4 Comparability Inferior Inferior Similar Superior Superior METHODOLOGY We believe that the most appropriate method of valuation for this type of property is to compare the subject with known sales of like properties, after making due adjustment for variations in location, dwelling size, construction materials, condition, accommodation quality, other improvements, site factors, and overall appearance and presentation. As such we assessed the current market value of the property by the direct comparison approach whereby sales of similar residential properties in the subject locality have been compared with the subject property, as well as having analysed sales and undertaking a net rate analysis of the comparable sales with the subject property. RISK ANALYSIS (copyrighted) Property Risk Locality Land including Title Planning resource consent issues Improvements Market Risk Reduced value next 2 years Market Volatility Local Economy Market Segment 1 1 2 2 3 3 Comments Quite handy Good water views No issues known Cladding style has some resistance Comments Prices were flat but now rising sometimes rapidly Listings low Population steady Entry level and under $650,000 preferred NB. Risk Ratings: 1 Low, 2 Medium, 3 High Our observations within the Risk Assessment and the body of this report provide our opinion of the property as at the date of the valuation. This opinion has been based on many factors including our research and knowledge of the property market, and reflects the nature and standard of the property and current market conditions. The Risk Assessment forms part of the full valuation report and must not be relied upon in isolation. Page 11 of 15 115a Normandale Road Normandale Lower Hutt