Church Road Flashcards
1
Q
Why did you apply a blanket reduction of £10k?
A
It was evidence based. One-beds in the area were achieving £10-£15k less than the previous time of valuing. Help to Buy had ended, mortgage & rates were high. Also agents opinions ranged from £300-£310k, compared with last time bigger range £300-£330k.
2
Q
What was the sales rate for Church Road?
A
Less than 1 unit per month which is low for shared ownership
3
Q
What other comps suggested reductions in price for Church Road?
A
Cricketers House, reductions of £10-£20k for one and two beds
4
Q
What was the purpose of the Church Road val?
A
Sales and marketing
5
Q
Were there any special assumptions for Church Road?
A
Yes. Units available for sale on open market, unrestricted due to tenure and complete at date of valuation
