Statewide Valuations Pty Ltd
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About
Our two senior valuer have a combined 40 years experience and are well known for their prompt and reliable service. We provide valuation reports for all types of properties and offer high quality reports. We also provide comprehensive as well as simpler valuation reports and operate throughout NSW. Our valuers are practicingmembers of the Australian Property Institute and Australian Valuers Institute.
Property valuers
In New South Wales, valuers are regulated under the Valuers Act 2003 and the Valuers Regulation 2005, which commenced on 31 March 2005. The current legislation replaced the former Valuers Registration Act 1975 and the regulations under it.
General Information:-
Real estate appraisal or Property Valuation as it is known in Australia is the practice of developing an opinion of the value of real property , usually its Market Value. The need for appraisals arises from the heterogenous nature of property as an investment class: no two properties are identical, and all properties differ from each other in their location - which is the most important determinant of their value. So there cannot exist a centralised Walrasian auction setting for the trading of property assets, as there exists for trade in corporate stock. The absence of a market-based pricing mechanism determines the need for an expert appraisal/valuation of real estate/property.
The methods used to value properties can be broken down into three basic categories
those based on conditions in the marketplace at a given point in time (sales comparison), those
based on cost to rebuild (replacement cost), and
those based on the capitalization of future income flows (income capitalization).
In Australia the valuation issue has become problematic in that generally accepted accounting principles allow for the upward revaluation of original cost in financial statements, unlike the United States where historical cost must be used. Whilst such revaluation recognizes the long-term historical growth in property values and keeps observers aware of the current prices
that the properties might realize. Given the cyclical nature of property values in general, this has resulted in some spectacular overvaluations and subsequent financial embarrassment, as
people, companies and the like in Australia have borrowed against inflated figures reported. Explanations of the various methods of
property valuations are provided below.
Sales comparison method
Under this method a range of prices should be gathered at which transactions of similar properties have taken place in the recent past. Clearly these values can only be an indication, since no two properties are identical. Properties differ in location, construction, design, fitting out, and so on.
Adjustments are therefore necessary to reflect these differences. Such adjustments are complex and rely on the knowledge and skill of the valuer.
Our Valuers at OZ Property Valuers have the following qulaifications and are highly qulaified to prepare all types of valuations and reports.
Qualifications:
* B AppSc (Land Economics)
* B Criminology
* B.A Philosophy, Politics and international relations
* Graduate diploma in property
* Master in property and development
* Associate Diploma Accounting
* Real Estate Advanced Certificate
* Auctioneer Practice
* Justice Of The Peace
* Officer Of The Court
$175
Stamp Duty Valuations
(02) 9361 3984
Valuations
Residential, commercial and industrial
Pre-purchase/sales
Probate And more
Other Services
Land and environmental matters
Feasibility studies
Court appearances And more
2005 252A Moore Park Road / Paddington Sydney NSW 2021 / Ph: (02) 9361 3984 / Fax: (02) 9361 3983
* Home
* About
* Valuations
* Contact
About
Our two senior valuer have a combined 40 years experience and are well known for their prompt and reliable service. We provide valuation reports for all types of properties and offer high quality reports. We also provide comprehensive as well as simpler valuation reports and operate throughout NSW. Our valuers are practicingmembers of the Australian Property Institute and Australian Valuers Institute.
Property valuers
In New South Wales, valuers are regulated under the Valuers Act 2003 and the Valuers Regulation 2005, which commenced on 31 March 2005. The current legislation replaced the former Valuers Registration Act 1975 and the regulations under it.
General Information:-
Real estate appraisal or Property Valuation as it is known in Australia is the practice of developing an opinion of the value of real property , usually its Market Value. The need for appraisals arises from the heterogenous nature of property as an investment class: no two properties are identical, and all properties differ from each other in their location - which is the most important determinant of their value. So there cannot exist a centralised Walrasian auction setting for the trading of property assets, as there exists for trade in corporate stock. The absence of a market-based pricing mechanism determines the need for an expert appraisal/valuation of real estate/property.
The methods used to value properties can be broken down into three basic categories
those based on conditions in the marketplace at a given point in time (sales comparison), those
based on cost to rebuild (replacement cost), and
those based on the capitalization of future income flows (income capitalization).
In Australia the valuation issue has become problematic in that generally accepted accounting principles allow for the upward revaluation of original cost in financial statements, unlike the United States where historical cost must be used. Whilst such revaluation recognizes the long-term historical growth in property values and keeps observers aware of the current prices
that the properties might realize. Given the cyclical nature of property values in general, this has resulted in some spectacular overvaluations and subsequent financial embarrassment, as
people, companies and the like in Australia have borrowed against inflated figures reported. Explanations of the various methods of
property valuations are provided below.
Sales comparison method
Under this method a range of prices should be gathered at which transactions of similar properties have taken place in the recent past. Clearly these values can only be an indication, since no two properties are identical. Properties differ in location, construction, design, fitting out, and so on.
Adjustments are therefore necessary to reflect these differences. Such adjustments are complex and rely on the knowledge and skill of the valuer.
Our Valuers at OZ Property Valuers have the following qulaifications and are highly qulaified to prepare all types of valuations and reports.
Qualifications:
* B AppSc (Land Economics)
* B Criminology
* B.A Philosophy, Politics and international relations
* Graduate diploma in property
* Master in property and development
* Associate Diploma Accounting
* Real Estate Advanced Certificate
* Auctioneer Practice
* Justice Of The Peace
* Officer Of The Court
$175
Stamp Duty Valuations
(02) 9361 3984
Valuations
Residential, commercial and industrial
Pre-purchase/sales
Probate And more
Other Services
Land and environmental matters
Feasibility studies
Court appearances And more
2005 252A Moore Park Road / Paddington Sydney NSW 2021 / Ph: (02) 9361 3984 / Fax: (02) 9361 3983
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