Most buyers feel excited or anxious when they find a property they like. But GeeVee analyses properties using eight objective data points, not emotion. Here is how to know if you are looking at a genuine deal or paying too much.

The GeeVee 8-Point Property Deal Checklist

1. Comparable sales in the last 90 days — Has anything similar sold nearby? Price per square metre is more reliable than bedroom count alone.
2. Days on market — Properties sitting more than 45 days in a normal market usually have a problem (overpricing, defects, location issue). Under 21 days suggests strong competition.
3. Vendor discount from asking price — Melbourne inner suburbs average 2.4% vendor discount. If asking is 8% above comparables you have room to negotiate.
4. Rental yield analysis — For investment: calculate the gross yield. If the suburb average is 4.8% and the property yields 3.9%, you are paying above fair value for income.
5. Building and pest inspection — A $600 inspection can reveal $30,000 to $150,000 in issues. Non-negotiable before exchange.
6. Planning overlays and zoning — Heritage overlay, flood zone, bushfire zone, and restrictive covenants all affect future development potential and resale.
7. Infrastructure pipeline — Is a train station, hospital or major employer moving nearby? That is a tailwind. Is a freeway or industrial zone planned nearby? That is a headwind.
8. Supply pipeline — How many new apartments are planned in the suburb? Oversupply suppresses rental growth and resale values.

Red Flags That Tell You It Is Not a Good Deal

• The property has been relisted more than twice in 12 months
• The agent cannot provide comparable sales to justify the asking price
• The building inspection reveals structural issues, significant moisture or illegal works
• The strata report shows a deficit in the administrative fund and a history of special levies
• The yield is more than 1% below the suburb average without a clear reason

Frequently Asked Questions

How do I find comparable sales to assess a property?

Use CoreLogic, Domain or REA to search recent sold properties (filter to last 90 days, same suburb, similar bedrooms). The Collings portal also provides suburb-level comparable sales data powered by GeeVee. Sign up free at collings.com.au/portal.

Should I negotiate on every property I make an offer on?

Yes. Even in competitive markets there is usually room. A Collings Property Advisory session ($4,500 plus GST) includes a full comparable sales analysis, offer strategy and agent negotiation on your behalf.

What is a fair offer on a house in Melbourne in 2026?

Start with the median of comparable sales in the last 90 days. Adjust down for days on market above 30 days, building issues found in inspection, or poor presentation. Adjust up for unique features (rare land size, premium school zone, renovation quality).

Get a Professional Property Assessment

Whether you’re buying your first investment property, building a portfolio, or exploring SMSF property investment, the Collings Property Platform gives you access to off-market opportunities, portfolio tracking, investment tools, and property insights powered by GeeVee AI. Join free today and start building your property future. collings.com.au/portal