Page 3707 - Week 10 - Thursday, 19 September 2019
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|
Price Range |
Sold for Less than Buyback Price |
|
$175 000 to $199 999 |
37 |
|
$200 000 to $249 999 |
51 |
|
$250 000 to $299 999 |
20 |
|
$300 000 and above |
29 |
Note: the total number of properties sold for less than the Buyback price provided in Question Taken on Notice Paper No. E19-374 was incorrectly reported as 613, instead of 612. This was due to the termination of a contract in June 2019 that was still reported as exchanged as at 3 July 2019.
(2) As at 13 August 2019, Mr Fluffy blocks were sold for more than the buyback price2
|
Price Range |
Sold for More than Buyback Price |
|
less than $10 000 |
23 |
|
$10 000 to $24 999 |
28 |
|
$25 000 to $49 999 |
38 |
|
$50 000 to $74 999 |
33 |
|
$75 000 to $99 999 |
24 |
|
$100 000 to $124 999 |
23 |
|
$125 000 to $149 999 |
8 |
|
$150 000 to $174 999 |
13 |
|
$175 000 to $199 999 |
13 |
|
$200 000 to $249 999 |
11 |
|
$250 000 to $299 999 |
6 |
|
$300 000 and above |
21 |
The Territory purchased affected properties at full market value as at 28 October 2014 (or for newly-identified properties, the date added to the Affected Residential Premises Register), ignoring the presence of loose fill asbestos contamination and minor presentation or maintenance issues.
The offer for sale of a remediated block is a second and separate market transaction.
The sale price is based on the market value of the remediated block at the time it is available for resale. Valuers use the ‘direct comparison’ method of valuation to determine a current market value for residential blocks. Sales of similar properties in the suburb and surrounding areas are analysed and adjustments are made for location, elevation, block shape, potential for dual occupancy and date of sales evidence.
The approach to the sales phase is in line with the stated intention to sell each block at current market value, reflecting its best and highest use in order to offset the cost of the Buyback and Demolition Program, repay the Commonwealth loan and minimise the residual cost of the Scheme to the Territory.
___________________________
1 Two blocks have sold since the original response (No. E19-374) bringing the total number of properties sold for less than the Buyback price from 612 to 614.
2 One block has sold since this the original response (No. E19-374) bringing the total number of properties sold for more than the Buyback price from 240 to 241.
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