Understanding More Than Just the ‘Face Value’ of a Property

As a property professional, whether that be a real estate agent, property valuer, developer, or in finance, the first question is always ‘how much is my property worth?’ The answer is ‘well, what can we develop on it?’ And with housing and construction being the hottest topic now, this answer is more relevant than ever.

On face value, 2 properties that are similar in area size, similar age, similar dwellings, and on the same street should be similar in value. On face value, that is true. If we can dig deeper, we might find that this isn’t always the case.

One aspect of a property that can add significant value is the number of lots on the title, known as ‘Multi-lot’ or ‘Splitter Blocks’. Normally, identifying these can be a costly and time-consuming task. So, what is the value of understanding this about property?

As an agent, you are tasked with estimating the highest value of a property for your vendor, while determining the best marketing strategy. Having this data readily available allows you to maximise your estimated selling price and focus your marketing strategy and spend to get the highest return.

As a developer, trying to remove or minimise risk is significant to the success of your developments. The more relevant information that you have coming into your due diligence and analysis, the more informed decision you can make.

For a valuer, understanding this potential value can alter your comparable properties as well as the final valuation of a property.

With National Property Groups years of experience in property, our advanced search filters and Maps functionality have been tailored to allow you to identify and understand these types of titles easily. Using a combination of the Parcel Type and Parcel Count filters, you can easily find any property that matches your criteria in a suburb, street, or even LGA.

At the property level, you have access to all the parcel information available including the parcel ID’s and area size of the individual parcels. This particular property has 3 lots.

If you want to take it next level of understanding, opening this property in Maps allow you to interact with each parcel.

And understand even more about what is happening around your property of interest by turning on aerials. 

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