A house at 25 University View, Kingston 6, has 4 bed rooms and 3 bath rooms and is now up for sale. The property is in close proximity to two universities. Recently three houses on the same street were sold for $3,000,000, $3,150,000 and $3,000,000 respectively. The first house that was sold consists of 3 bedrooms and 2 bathrooms, the second house has 3 bedrooms and 3 bathrooms and the third house has 2 bathrooms and 3 bedrooms.

Required

(a) Using the information given, use the market value method of valuation to give the estimated value of the house at 12 Institution View. 

(b) Give one reason why there could be a variation in the actual selling price from the amount that you have estimated.                                  

Answer rating: 100% (QA)

a value of three houses We have given the 2 bathroom 3m 3 Bedroom lin Bathreo m 315 m O 3 Bedr... View the full answer