Collect sales data on commercial, Classify all sales from 1/1/2016 into the following industrial and specialist properties: categories: prepare a database from all simp (sale improved) available sources svac (vacant land sale) inspect all sale properties, confirm ex (excluded sale) property data trk (tracking sale). reconcile sales comprising Provide valid justification for sales that have been multiple assessments with excluded. respective header assessment. Include sales analysis spreadsheets. Analyse sales to an appropriate unit of comparison including: Each sale to be analysed down to the adopted unit of comparison for the respective property of vacant and near-vacant land Provide a report with the following information to clarify the sales analysis methodology: improved sales to derive an site value’ ‘analysed legend for spreadsheet codes, row or column headings or other descriptors value of improvements impact of planning scheme, zoning, permit or permit calculate passing yields on leased refusals or planning issues sale properties and imputed yields on properties sold with impact of heritage registration or related issues analysis vacant possession any other allowance made in analysis. direct comparison rates. Sales Develop levels of value to be Provide look-up tables/matrices derived from sales analysis applied from analysed sales. for: site values capitalisation rates improvement values adjustment or influencing factors adopted. Address by SMG in submission: key sales used and brief market commentary adopted levels of value for components used in valuation calculations (e.g. value ranges, look-up tables, matrices) adjustment or influencing factor tables that adjust the adopted levels of value in the valuation calculation.
Sales analysis Collect sales data on commercial, industrial and specialist properties: prepare a database from all available sources inspect all sale properties, confirm property data reconcile sales comprising multiple assessments with respective header assessment. Analyse sales to an appropriate unit of comparison including: of vacant and near-vacant land improved sales to derive an ‘analysed site value’ value of improvements calculate passing yields on leased sale properties and imputed yields on properties sold with vacant possession direct comparison rates. Classify all sales from 1/1/2016 into the following categories: simp (sale improved) svac (vacant land sale) ex (excluded sale) trk (tracking sale). Provide valid justification for sales that have been excluded. Include sales analysis spreadsheets. Each sale to be analysed down to the adopted unit of comparison for the respective property Provide a report with the following information to clarify the sales analysis methodology: legend for spreadsheet codes, row or column headings or other descriptors impact of planning scheme, zoning, permit or permit refusals or planning issues impact of heritage registration or related issues any other allowance made in analysis. Develop levels of value to be applied from analysed sales. Provide look-up tables/matrices derived from sales analysis for: site values capitalisation rates improvement values adjustment or influencing factors adopted. Address by SMG in submission: key sales used and brief market commentary adopted levels of value for components used in valuation calculations (e.g. value ranges, look-up tables, matrices) adjustment or influencing factor tables that adjust the adopted levels of value in the valuation calculation.
2018-Valuation-Best-Practice-Specifications-Guidelines.docx