4/59 Chelmsford Avenue Bankstown NSW 2200 – Property Report

4/57 Chelmsford Avenue Bankstown NSW feature image

This is a Preliminary Property Report for 4/59 Chelmsford Avenue Bankstown NSW 2200.

In this Property Report I provide a Preliminary summary of what a Buyer needs to check before buying.

To purchase the COMPLETE PROPERTY REPORT for 4/59 Chelmsford Avenue Bankstown, please click here.

As always, my aim is to give you Expert Advice, So You Buy the Right Property. 

 


Property Listing Details for 4/59 Chelmsford Avenue Bankstown

18 March 2019 – Listed for Sale at $580,000 – $630,000

Property Sales History

12 April 2018 – Sold for $550,000

27 August 1996 – Sold for $138,500

Take note of the property sales history and in particular how long the current owner has owned the property. If the property is being sold within 3 years then it’s a ‘red flag’ and worth investigating further.

It’s a ‘red flag’ because the cost of purchasing a property is significant. An owner would not sell unless they had good reason to.

Owner Occupied or Rental?

The property is a Owner Occupied.

An Owner Occupied property is likely to be in better condition than one lived in by tenants. Owner’s tend to look after their place better especially if they want to maximise the sale price.

Tenants are less likely to care how much the owner sells the property for. The biggest concern for a tenant is whether the new owner will move into property.

Check the Owner Occupied Ratio

A review of the suburb at Bankstown NSW, shows owners 53% to renters 47%.

The Owner Occupier to rental property ratio indicates the % of owners to renters living in a suburb, a street or an area. It’s important to know who is living around you as this improves your awareness and safety of the area

Owner Occupied to Rental Ratio For Bankstown NSW 2200

Bankstown NSW owner occupied ratio

 

Check Days on Market

Listing Date: 18 March 2019

Days on Market: It’s only been listed a few days (at the time of writing), but keep an eye on how many days the property has been listed

Suburb Average Days on Market: On average, a 2 bed unit in Bankstown takes 78 days to sell.

Bankstown NSW days on market for 2 bed unit

The Days on market indicates the number of days the property has been listed for sale with the particular Real Estate Agent.

When a property takes longer to sell than average then you must do some further investigation as to why?

The longer a property stays on the market, the more suspicious buyers become. Buyers will often suspect there are building or other related issues.

If the property stays on the market too long (versus say the suburb average), then the property becomes “stale”.

Detailed Research

To purchase the COMPLETE PROPERTY REPORT for 4/57 Chelmsford Avenue Bankstown please click here.

The Complete Property Report will cover the following aspects of the property.

  • Owner occupied ratio for the surrounding streets and neighbouring properties
  • Check the number of days the property has been listed versus suburb average
  • Look through Old Property Listings to check for renovation works and additions
  • What changes have been made to the floorplan?
  • Sales history of surrounding properties
  • Check for a high ratio of rental properties in the area and identify rental properties with a high turnover
  • What are the Council and Planning Regulations for your property?
  • Is your property in a designated flood or fire impact zone?
  • Check recent Development Applications for building works that may affect your property
  • Provide aerial photos of the roof and the property boundary
  • Identify the location of green electrical boxes and telecommunications towers
  • Aerial photos of any large trees
  • Check shape of the land (for a house)
  • Check for green electrical boxes and telecommunications towers

To purchase the COMPLETE PROPERTY REPORT for 4/57 Chelmsford Avenue Bankstown please click here.

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