gumtree

Have searched on a website that there are 2 townhouses (same land area and floor plan) in Pascoe Vale, Melbourne. One was sold for $367K in Mar 10 whilst the other was sold for $470K in May 10. Does anyone have any idea why there is such a big difference?

http://www.domain.com.au/Property/So...did=2008228649

http://www.domain.com.au/Property/Fo...did=2008298472

jothefw

To me the cheaper house was not as "funkily" decorated, nice accessories make a big difference but mainly it had a tenant in for another 6 months so this could put a lot of people off who were looking to live in themselves.

ABCDiamond

Both sold at Auction. Auctions prices can vary from expected prices depending on many factors.

Here are some advertised prices for the property at number 2 View street. A 3 bedroom unit.

• $675,000 January 2009
• $725,000 January 2009
• $240,000 July 2007

That pricing highlights the real price change in that area from 2007-2009.

And to show how WA may be different to other States, a single house comparison near me, in QLD:
and another in Sydney, near where I used to live.
and another in Leichhardt closer to Central Sydney
That WA price change looks really scary in comparison.

lapin_windstar

The patio of the cheap one looks like a dark brick space looks out onto a wall and the patio of the more expensive one looks out over a little valley, has fruit trees and has a little shed? The more expensive one is a bit better decorated? The agent for the more expensive one took better photos and did more marketing?

pomtastic

Perhaps the cheaper one was on a back block, that is, no street frontage and behind another house? Land size the same?

The more expensive one had views going by the photos.

Just call the agent up and ask why.

spottydog

How do you know they are the same land area and floorplan as I can only see plans for one? Looking at the photo's I think the more expensive one has a significantly bigger garden and better quality finishes. The cheaper one says tenanted and in my experience that also seems to mean lower quality fitout and not the pick of the block