This is, funnily, exactly what's happening in the Brisbane CBD with some reported and advertised property sales' prices - they are both CBD apartments, they both have 2bedrooms, so should they sell for the same price? Absolutely not. They may have different numbers of bathrooms, different views, different numbers of car spaces ... and more.
So when I read 'Highest achieved price for 2bed unit in building 'XYZ' in 3 years!', I think "Hmmm ... could be that they're comparing apples with tomatoes!".
Without going into details it's interesting to note:
à An additional car space will add approx. $60,000 (or in some cases more) to the price of an apartment. However, a tandem car space will not achieve the same price as a single carspace. Example: 2bed unit with 2 car spaces will sell for approx. $60,000 more than one with only 1 carspace.
à Views mean $$$ ... sometimes. Apart from the direct riverfront views of some buildings and the eagle-soaring views from the top of 74-floor Soleil or 69-floor
, views can be here
today, gone tomorrow. Nice corridor views may remain while other better views
may be built out in a few years. Check Brisbane City Council Development
Approvals before spending extra money on a view. Aurora
à Apartment size and no. bathrooms. For a 2bed apartment, 2bathrooms would normally achieve higher prices than 1bathroom, but this may also depend on other factors such as the overall apartment size. A larger, well-designed apartment would also be expected to sell for more than a smaller type. Compare the apartment sizes and floorplans.
Back to our advertised highest price. Always ask yourself : what types of apartment is this being compared to? What size, floorplan, level, outlook, no. bathrooms and carspaces, and what does it include?
It may still be the highest price in years, but it may be like comparing apples and tomatoes .. they are very different.