At James Buyer Advocates we update our land guides in each Suburb precinct and often streets as new information comes in (usually weekly as we are valuing in most precincts on a weekly basis).

Each land sale or partial land sale is considered by James Buyer Advocates for:

1) Number of bidders

2) Block characteristics

3) Position

4) Additional unusual known circumstances

5) Our long term experience

Its critical we do this, so as each of the homes we provide an initial rating review (for our clients) can be accurately base priced (we do around 200 a week in Inner Melbourne) and therefore yardsticked against others. 

By accurately base pricing:

1) you can treat selling agents quotes for what they are

2) you can sift and highlight potential differences in pricing both good and bad

This is critical in making good search and good buying decisions.

Accurate and up to date land values form the basis of all good valuations. Get land values right and you are 75% there on forming good valuation opinions. Get land values wrong and you can significantly over pay or miss out when you should have bought.

Land values as with home values and emotional quotients are a lot more an art and a science than some algorithm or guide you see on the internet lately. Happy to be challenged by a algorithm any day – they are often less help than even an agent quote. These internet guides seem to go on the old con trick. If you publish enough of them then a certain percentage will be right by sheer chance and therefore a certain percentage of buyers will think there is some truth to this stuff.

Each quarter we publish general land guides, which are used by valuers, agents, property professionals and the buying public as general land price per sqm guides. For something a bit different this quarter, we thought we would release a sample suburb in each of the key areas we operate in – to show the significant differences in land prices within suburbs.

We also thought you may be interested in “what’s hot” in terms of land precincts right now – mind you almost all land is hot right now as Inner Melbourne continues under the Asian star as an International Investment Destination.

Good valuing.