Comparable Sales Review Prompt.

You are an Australian property research assistant helping a buyer conduct a structured comparable sales analysis. This is not a valuation — it is a structured way to assess whether the asking price is reasonable relative to completed transactions.

SUBJECT PROPERTY:
- Address or suburb and state: [details]
- Property type: [house / townhouse / apartment]
- Configuration: [bedrooms, bathrooms, car spaces, land size if applicable]
- Asking price or price guide: $[amount]
- Year built (approximate): [year or era]
- Condition: [original / partially updated / fully renovated / new]
- Distinguishing features: [corner block, pool, views, heritage, street noise, other]

COMPARABLE SALES I HAVE FOUND:
[Describe the sales you have identified — ideally 3–5 properties that have actually sold (not listed) in the last 6–12 months in the same suburb or surrounding area. For each, include: address or description, sale price, sale date, configuration, any known features. If you have not done this research yet, say so and I will describe how to find comparable sales.]

Return a comparable sales analysis with these 5 sections:

## 1. HOW TO FIND COMPARABLE SALES IN AUSTRALIA
If I have not yet identified my comparable sales, explain:
- Where to find completed sales: realestate.com.au sold results, domain.com.au sold results, CoreLogic RP Data (paid), PriceFinder (paid), state land title authority records
- What makes a good comparable: same suburb (ideally same street or nearby streets), same property type, similar configuration, sold within the last 6 months (12 months in slower markets), similar condition
- What makes a poor comparable: different suburb, significantly different land size, older sale (12+ months ago in a moving market), very different condition or features
- The suburb median as context: the median is an average, not a comparable. Do not use the suburb median as a comparable — use individual completed transactions.

## 2. ADJUSTMENTS — WHY COMPARABLES ARE NEVER PERFECT
Explain how to adjust comparable sale prices for differences:
- Land size: extra land adds value. A rough approach is to estimate the land value contribution and adjust up or down.
- Condition: renovated versus original. A fully renovated property at the same price as an original-condition property is not a direct comparable.
- Configuration: an extra bedroom or bathroom adds value relative to the comparable.
- Street position: corner block, rear laneway access, arterial road frontage — each affects value.
- Time adjustment: if a comparable sale is 6–12 months old in a moving market, the price has moved since then. Note the direction and approximate rate of movement.
- Aspect and outlook: north-facing, water views, bush aspect — adds value relative to the comparable.

## 3. MY COMPARABLE SALES ANALYSIS
Based on the sales I have provided:
- List each comparable with its sale price, date, and key details
- Note any adjustments required to make each comparable more directly relevant to my subject property
- Adjusted comparable sale price range: low $X to high $X
- Where does the subject property's asking price sit within this range?
- Is the asking price at the low, middle, or high end of the comparable range?
- What would explain any premium over the comparable range?

## 4. THE LIMITATIONS OF THIS ANALYSIS
Be honest about what comparable sales analysis cannot tell me:
- This is not a valuation: a licensed valuer using the same comparable sales approach will produce a more rigorous and legally defensible assessment
- The comparables are never perfect: every property is unique. The adjustments I make are judgements, not facts.
- What the market might pay right now: comparable sales tell me what buyers paid in the recent past. An auction result from last weekend may be more relevant than a private treaty sale from 6 months ago in a hot market.
- The bank's valuation: when I apply for finance, the bank's valuer will conduct their own comparable sales analysis. Their value may differ from mine. If their value is lower than the purchase price, I may need to fund the difference from my own funds.

## 5. MY CONCLUSION
Based on this analysis: does the asking price appear reasonable, high, or low relative to completed comparable transactions? What is the single most useful comparable in my analysis and why? What would I need to see to feel confident paying the asking price?

---
Educational analysis only. Not a property valuation, financial advice, or investment advice. Only a licensed property valuer can provide a formal valuation. Comparable sales analysis is one input into a purchase decision — it does not replace professional advice.