How to accurately estimate gross realisation value for a townhouse development project in inner-city Melbourne?

To accurately estimate gross realisation value for an inner-city Melbourne townhouse development, a meticulous comparable sales analysis is paramount. Focus on recently sold, similar new townhouses within a 1-2 kilometre radius, considering key attributes like bedroom count, bathroom count, car spaces, internal area, land component, and amenity proximity. Adjust for any unique features or market shifts since the comparable sales occurred. Engage reputable local real estate agents specialising in new builds for their insights on current market sentiment, buyer demand, and anticipated pricing. Factor in potential off-the-plan premiums versus completed product pricing, and carefully analyse any recent sales data from competing projects in various stages of completion to refine your pricing strategy and minimise risk.