28 Collis Road, Wattleup WA 6166

Family home, large block | bushfire overlay risk | premium price per square | no recent equivalent sold nearby This property demands a price approximately $700,000 above its recent purchase, supported only by optimistic rental estimates that do not cover holding costs at current borrowing rates. The bushfire overlay introduces insurance premiums and potential compliance costs not reflected in the valuation range. For a buyer intending to occupy, the land size and six-bedroom configuration offer genuine space scarcity in Wattleup, but the price must be negotiated toward the lower valuation boundary to allow for overlay-related expenses and the lack of demonstrated rental demand at the higher figure. The combination of 1.04 hectares with a pool and solar infrastructure is rare in this corridor, giving the buyer positional leverage if they intend to hold for five years or more. The property suits a family seeking suburban acreage with school proximity, not an investor relying on cash flow from the stated rental range. The most appropriate next step is to commission a bushfire assessment and two independent rental appraisals from local agents before making an offer that reflects both the land advantage and the overlay risk. Comparable sales indicate two prior transactions in 2023 and 2025 at $1.3m and $1.82m, showing 40% appreciation in two years. The current list price of $2.5m represents a further 37% increase, which lacks direct market evidence in the immediate street or nearby properties. This data suggests the seller is testing a premium that may not be substantiated unless the buyer specifically values the land area over recent sale benchmarks.