Comparable sales

Comparable sales are often unavailable at valuation date and pre- and post-valuation date sales are used as a reference point for a valuation. There are also instances where purported comparable sales from a geographically different area or different market segment to that of the subject property are referenced in a valuation. We often receive purported supporting sales data in property valuations without any explanation as to why the data is comparable.

ATO position

Comparable sales must withstand objective scrutiny of their comparability. If post- valuation date sales or remote-area sales are to be used, these must have commentary as to why the valuer considers it reasonable to use these sales to establish the subject property value.

    Last modified: 27 May 2014QC 25319