Sophia Hills’ closest competition would be Liv on Wilkie, found about 300m along Wilkie Terrace, away from the development. Established in late October 2013, its present median cost is $2,466 psf to Sophia Hills’ $1,899 psf. The cost differential is probably due to different market states at time of trade and the fact that Liv on Wilkie is a freehold development. Residents at Liv on Wilkie are also likely to be an excellent mixture of owner occupiers and tenants who enjoy the project’s location.
Components at Liv on Wilkie range from 1- to 3-bedroom units. To have a clearer image, we’ll be looking at 1- and 3-bedroom units specifically, across both developments. Based on caveats, Sophia Hills’ 3-bedroom units have a median cost of $1,885 psf while Liv on Wilkie’s is $2,508 psf.
As for 1-bedroom units, Sophia Hills’ have a median cost of $2,287 psf Wilkie on and Liv ’s have a median cost of $2,201 psf.
We should look at unit sizing too before determining based on these numbers alone. Components are typically bigger at Sophia Hills. At Liv on Wilkie, they’re between 743 sqft and 732 sqft.