Proving that it is dangerous to use a council valuation as your guide to a property’s value, the latest council valuation on our stunning property at 865 Portarlington Rd Leopold has come in at $1.03M up from the previous year’s valuation of $750,000!
That’s quite a jump. Seems like they hadn’t valued the property for some time which shows that you should be careful not to jump on the section 32 and go straight to the rates page to see what a property is “worth”!
Of course this is still below the asking price of $1.15-1.25M. However it does not take into account the income of $15,000 pa the property earns via the second dwelling; a 3 bedroom 1960’s cream brick house.