What valuers do

Property valuers assess the value of land, buildings and improvements and plant and machinery. They provide expert advice on matters under litigation and are recognised by courts as expert interpreters of the property market.

Valuers gather and analyse a range of property information such as sales to determine the values of comparable properties. A valuation is an assessment of the amount a property would sell for on a set date.

The valuation process is a complex one, involving continual reviews of data and an ongoing analysis of developments in the property market.

Valuations are used for:

setting limits for the sale and purchase of properties
setting rental levels (lease)
determining compensation following the compulsory acquisition of property
asset accounting and management (financial reporting)
lending and associated financial dealings (mortgages)
property settlements (divorce proceedings, deceased estates)
property rating and taxation systems
property portfolio analysis
taxation assessments (GST)
determining issues when there is a dispute (retail rental determinations under the Retail Leases Act 2003)
providing expert evidence before the courts/Victorian Civil and Administrative Tribunal.