According to Australian Property Institute standards, what is the maximum time period that should generally elapse between comparable sales and the valuation date for residential properties in stable markets?
Correct Answer
B) 6 months
The API generally recommends that comparable sales should be within 6 months of the valuation date in stable markets to ensure they reflect current market conditions. In volatile markets, this timeframe may need to be shorter to maintain accuracy and relevance.
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According to Australian Property Institute standards, what is the maximum age of comparable sales that should typically be used in a direct comparison valuation in a stable market?
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