VIC Single Residential Property Located In The Melbourne Metropolitan Area User Guide

VIC Single Residential Property Located In The Melbourne Metropolitan

Area

Product Information

Specifications

• Property Type: Single residential
• Location: Melbourne metropolitan area
• Address: 11/25 Nicholson Street, Bentleigh, VIC 3204
• Indicative Selling Price Range: $615,000 to $660,000
• Median Sale Price: $980,000
• Sale Period: 01 April 2023 to 30 September 2023
• Unit Source: Suburb Bentleigh
• Comparable Property Sales: The estate agent or agent’s representative reasonably believes that fewer than three comparable properties were sold within two kilometers of the property for sale in the last six months.
• Statement of Information Prepared on: 16/10/2023

Product Usage Instructions

Step 1: Understanding the Property Type and Location

The product is a single residential property located in the Melbourne metropolitan area. It is situated at 11/25 Nicholson Street, Bentleigh, VIC 3204.

Step 2: Indicative Selling Price Information

The property has an indicative selling price range of $615,000 to $660,000. This range provides an estimate of the expected selling price for the property.

Step 3: Median Sale Price Information

The median sale price for properties in the area is $980,000. This information gives you an idea of the average sale price for properties in the vicinity.

Step 4: Sale Period and Unit Source

The sale period for this property is from 01 April 2023 to 30 September 2023. The unit source is the suburb of Bentleigh.

Step 5: Comparable Property Sales

The estate agent or agent’s representative believes that there have been fewer than three comparable property sales within two kilometers of the property for sale in the last six months. This information helps assess the uniqueness and market value of the property.

Step 6: Statement of Information Date

The Statement of Information was prepared on 16/10/2023. This date indicates when the information provided in this manual was last updated.

Frequently Asked Questions

Q: What is the property type?

A: The property is a single residential unit located in the Melbourne metropolitan area.

Q: What is the indicative selling price range?

A: The indicative selling price range is $615,000 to $660,000.

Q: What is the median sale price?

A: The median sale price for properties in the area is $980,000.

Q: How long is the sale period?

A: The sale period for this property is from 01 April 2023 to 30 September 2023.

Q: How many comparable property sales have occurred nearby?

A: The estate agent or agent’s representative believes that there have been fewer than three comparable property sales within two kilometers of the property for sale in the last six months.

Q: When was this Statement of Information prepared?

A: This Statement of Information was prepared on 16/10/2023.

Statement of Information

Single residential property located in the Melbourne metropolitan area

Sections 47AF of the Estate Agents Act 1980

Instructions: The instructions in this box do not form part of this Statement of Information and are not required to be included in the completed Statement of Information for the property being offered for sale.

• The Director of Consumer Affairs Victoria has approved this form of the Statement of Information for section 47AF of the Estate Agents Act 1980.
• The estate agent or agent’s representative engaged to sell the property is required to prepare this Statement of Information. It must be used when a single residential property located in the Melbourne metropolitan area is being offered for sale. The Determination setting out the local government areas that comprise the Melbourne metropolitan area is published on the Consumer Affairs Victoria website at consumer.vic.gov.au/underquoting. The indicative selling price in this Statement of Information may be expressed as a single price, or as a price range with the difference between the upper and lower amounts not more than 10% of the lower amount.
• This Statement of Information must be provided to a prospective buyer within two business days of a request and displayed at any open for inspection for the property for sale.
• It is recommended that the address of the property being offered for sale be checked at services.land.vic.gov.au/landchannel/content/addressSearch before being entered in this Statement of Information.

Property offered for sale

Address Including suburb and postcode
11/25 NICHOLSON STREET, BENTLEIGH, VIC 3204

Indicative selling price

For the meaning of this price see consumer.vic.gov.au/underquoting

Price Range: $615,000 to $660,000

Median sale price

• Median price
  $980,000

• Property type
  Unit

• Suburb
  BENTLEIGH

• Period
  01 April 2023 to 30 September 2023

• Source

Comparable property sales

The estate agent or agent’s representative reasonably believes that fewer than three comparable properties were sold within two kilometres of the property for sale in the last six months.

This Statement of Information was prepared on: 16/10/2023

consumer.vic.gov.au/

References

• Understanding property prices and underquoting for buyers - Consumer Affairs Victoria

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