As widely reported in the press, the late George Michael’s Sydney property, located in the prestigious northern beaches suburb of Palm Beach, was sold on the 23rd March for $13M.
Including and calculating all the features of the property for example it’s two-way stunning water views from every room and its waterfront location PropertyPricer was able to predict a value of $13,120,937.
This is a 99% accuracy level, and that is achieved without a site inspection, and most importantly without comparing to other sales in the area!
Property Valuation Summary, 333 Whale Beach Rd, Palm Beach:
- Sold price: $13,000,000
- Predicted selling price using PropertyPricer: $13,120,937
- Accuracy 99%
- Domain’s prediction: $7,410,000 to $8,270,000
According to Lisa Cross, PropertyPricer’s Valuations Quality Manager, “These special high-end properties need to be valued based on their superior quality features, rather than simply just on the number of bedrooms and bathrooms. Other sales in the area are not an accurate or reliable way to value such properties. It is their uniqueness that lifts the value, and PropertyPricer is the only valuation tool that does this.”