What is comparable analysis?

Comparable Analysis is the method normally used to assess the likely value of a property.

Similar properties which have sold recently for a known price are compared to the target property and this known price is adjusted for the differences between the properties and the market changes since that sale date.

The result is a price for the target property implied by the sale of that comparable. This process would ideally be performed a number of times to create a number of implied prices and from these a comparable valuation can be produced.