1. Summary of average values (plot weighted) ... Source: Land Registry or Registers of Scotland and

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  • PLYMOUTH PARKPLYMOUTH PARK

    This report provides an independent analysis of the supportable pricing levels across the proposed scheme for the purposes of land appraisal.

    The report is based on the catchment area and property schedule provided by the client. These inform the selection of relevant Hometrack comparable evidence and the collation of the latest additional comparable evidence by an independent surveyor who has conducted a site visit and obtained a brie ng on the vision for the scheme.

    The report is split into 2 parts: Part 1 (Sections 1 to 6) contain the key ndings and market data, whilst Part 2 (Supplemental Information) provides the full data supporting the property type level analysis.

    Sections 1, 2 and 3 set out the headline results where the supportable valuation for each property type is compared to the expected net achievable price supplied by the client and the relevant comparable evidence from the local market. Sections 4 and 5 set out a pro le of housing turnover, pricing trends and the pro le of pricing across the local market. Section 6 sets out the surveyor's overall commentary on the scheme with the supplemental information providing a detailed analysis of the comparable evidence for each property type. Throughout the report, historic comparable evidence has been indexed to today's date using granular local market indicies.

    If you have a question for Hometrack on this report please call 020 3744 0405 or email customerservice@hometrack.com.

    1. Summary of average values (plot weighted)1. Summary of average values (plot weighted)

    The table below summarises the pricing analysis across the whole scheme with the values shown weighted to the mix of plots proposed by property type. This report nds that the plot weighted supportable valuation across the scheme is £344,100 or £326 per sq. ft.

    £/plot £psf

    Net achievable price (client) £341,150 £323

    Supportable valuation £344,100 £326

    Relevant comparables £370,600 £352

    UB3 2SP market upper decile £475,500 £520

    De nitions for these price points can be found at the end of this report in Section 8.4 – Using this report

    Land Appraisal ReportLand Appraisal Report Plymouth Park - XYZ Developments Ltd - 08 November 2018

    Private & confidential © Hometrack 2018 Page 1

  • 2. Supportable valuation by property type2. Supportable valuation by property type

    The table below compares the supportable valuation for each property type to the net achievable sales price expected by the client. Full details of the supporting information for each supportable valuation is set out in the nal section - Supplemental information.

    Comparison of supportable valuation to net achievable price (client)Comparison of supportable valuation to net achievable price (client)

    Ref Property type &size (sqft.) No.

    plots Supportable

    valuation Supportable

    £psf Net achievable sales

    price Net achievable

    £psf Variance £ Variance

    £psf

    1 Milton - Flat1 bed Flat 700 - 800 5 £250,000 £334 £250,000 £333 0% 0%

    2 Worcester - Flat2 bed Flat 800 - 900 9 £290,000 £342 £300,000 £352 -3% -3%

    3 Cambridge - Terrace 3 bed Terraced 1000 - 1100

    14 £360,000 £343 £350,000 £333 3% 3%

    4 Bristol - Terraced 3 bed Terraced 1250 - 1350

    16 £390,000 £300 £385,000 £296 1% 1%

    Plot weighted average £344,090 £326 £341,136 £323 1% 1%

    Land Appraisal ReportLand Appraisal Report Plymouth Park - XYZ Developments Ltd - 08 November 2018

    Private & confidential © Hometrack 2018 Page 2

  • 3. Supportable valuation compared to relevant comparables3. Supportable valuation compared to relevant comparables

    The table below compares the supportable valuation for each property type to the pricing level of the most relevant comparables. Full details of all the comparables for each property type are set out in the nal section - Supplemental information.

    Comparison of supportable valuation to relevant comparablesComparison of supportable valuation to relevant comparables

    Ref Property type &size (sqft.) No.

    plots Supportable

    valuation Supportable

    £psf Relevant

    comparables Relevant

    comparables £psf Variance £ Variance

    £psf

    1 Milton - Flat1 bed Flat 700 - 800 5 £250,000 £334 £279,040 £382 -12% -14%

    2 Worcester - Flat2 bed Flat 800 - 900 9 £290,000 £342 £304,222 £366 -5% -7%

    3 Cambridge - Terrace 3 bed Terraced 1000 - 1100

    14 £360,000 £343 £396,975 £370 -10% -8%

    4 Bristol - Terraced 3 bed Terraced 1250 - 1350

    16 £390,000 £300 £413,430 £321 -6% -7%

    Plot weighted average £344,090 £326 £370,584 £352 -8% -8%

    Land Appraisal ReportLand Appraisal Report Plymouth Park - XYZ Developments Ltd - 08 November 2018

    Private & confidential © Hometrack 2018 Page 3

  • Comparison of supportable valuation to relevant comparables (continued)Comparison of supportable valuation to relevant comparables (continued)

    The charts below provide greater context for the analysis in the table above. There are two sets of charts – those to the left show absolute pricing levels and to the right £psf pricing. Each chart shows the supportable valuation against the range of pricing for relevant comparables and the net achievable price from the client. The numbers on the bottom axis relate to the ref number in the table above for each property type.

    Chart key: Relevant comparables, Supportable valuation mid point, Price (client)

    Ref 1 2 3 4

    Absolute £ valuesAbsolute £ values

    £200,000

    £300,000

    £400,000

    £500,000

    £600,000

    Ref 1 2 3 4

    £psf values£psf values

    £200

    £300

    £400

    £500

    £600

    Land Appraisal ReportLand Appraisal Report Plymouth Park - XYZ Developments Ltd - 08 November 2018

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  • 4. Housing turnover and availability4. Housing turnover and availability

    The table below sets out the numbers of sales registered in the last 12 months by price band and type. This data covers the sales volumes within the catchment area for this report which is shown on the map at Section 7. In addition to the numbers of homes sold there is a snapshot of homes currently listed for sale and the proposed units on the scheme.

    Price band (£) Terraced Flat

    Registered sold in last year

    Listed for sale*

    No. units proposed

    Registered sold in last year

    Listed for sale*

    No. units proposed

    < £99,999 1 0 0 12 1 0

    £100,000 - £124,999 0 0 0 9 0 0

    £125,000 - £149,999 0 0 0 14 0 0

    £150,000 - £174,999 1 0 0 22 1 0

    £175,000 - £199,999 2 0 0 26 2 0

    £200,000 - £224,999 2 0 0 23 1 0

    £225,000 - £249,999 5 1 0 64 4 0

    £250,000 - £274,999 5 1 0 40 3 5

    £275,000 - £299,999 7 0 0 43 5 0

    £300,000 - £324,999 24 0 0 28 1 9

    £325,000 - £349,999 33 3 0 19 0 0

    £350,000 - £374,999 28 1 14 2 0 0

    £375,000 - £399,999 29 3 16 8 1 0

    £400,000 - £424,999 34 3 0 9 0 0

    £425,000 - £449,999 17 2 0 2 0 0

    £450,000 - £474,999 14 1 0 2 0 0

    £475,000 - £499,999 3 1 0 0 0 0

    £500,000 - £524,999 0 0 0 0 0 0

    £525,000 - £549,999 2 0 0 1 0 0

    > £550,000 4 0 0 6 0 0

    Total 211 16 30 330 19 14

    Source: Land Registry or Registers of Scotland and Zoopla Property Group.

    *Zoopla market share varies continuously in both absolute and regional terms. The listed for sale counts should be used as a guide to inform the spread of market liquidity rather than re ecting the absolute volume of property currently for sale across the local market.

    Land Appraisal ReportLand Appraisal Report Plymouth Park - XYZ Developments Ltd - 08 November 2018

    Private & confidential © Hometrack 2018 Page 5

  • 5. Profile of pricing trends across local market5. Profile of pricing trends across local market

    This section sets out information on average prices over time and the recent change in pricing levels by property type in UB3 2SP. There is a £psf map of residential values across the local market to provide a wider context for pricing levels.

    Average price over time in UB3 2SPAverage price over time in UB3 2SP

    Terraced Flat

    Aug -08 Feb -09 Aug -09 Feb -10 Aug -10 Feb -11 Aug -11 Feb -12 Aug -12 Feb -13 Aug -13 Feb -14 Aug -14 Feb -15 Aug -15 Feb -16 Aug -16 Feb -17 Aug -17 Feb -18 Aug -18

    £0

    £100,000

    £200,000

    £300,000

    £400,000

    ( £ )

    Source: Hometrack House Price Indices

    House price inflation by property type in UB3 2SP (to Sep-18)House price inflation by property type in UB3 2SP (to Sep-18)

    Period Terraced Flat

    3 months NaN  1.6%

    6 months  -0.1%  1.6%

    1 year  1.1%  1.0%

    2 years  5.1%  4.4%

    3 years  16.5%  13.7%

    Source: Hometrack House Price Indices - Growth percentages are absolute over the period stated (not annualised).

    Land Appraisal ReportLand Appraisal Report Plymouth Park - XYZ Developments Ltd - 08 November 2018

    Private & confidential © Hometrack 2018 Page 6

  • 5.3 £psf capital values around the scheme5.3 £psf capital values around the scheme

    Source: Hometrack

    £331

    £psf bands

    £438

    £545