valuation

Property Valuation is not trying to sell property to the valuer

North Sydney freehold stock enjoyed solid investor demand from institutions, driving yields down in 2006, with prime yields breaking the sub 7.00% barrier. However, relatively softer investor demand in the strata market led yields to remain static during 2006, with yields continuing to average 7.00% to 7.50%. Reduced investor demand was contributed.

The fact of increasing the value of property is increasing rapidly and because of those valuers has come in demand to manage the whole process of property valuation. But the service provided by property valuers of Brisbane is most beneficial and usable to make your process complete with huge amount of profit. And this will make your property to increase its price and as well as after that you will be able to make decision on your property.

No new supply entering the market since the completion of the Blade in 2003 and Milsons Landing in 2004 (pre-sales 2002 and 2003). A mixed outlook amongst private investors for the North Sydney market following high vacancy rates and modest rental growth.

However, this slow down in investor demand has create d opportunities, allowing savvy investors the opportunity to achieve yields greater than 7.50% Crow’s Nest / St Leonard’s is the second largest strata market on the Lower North Shore, comprising 54,600 sq m of stock across 29 buildings.This represents 28% of the Lower North Shore strata office stock and equates to 14% of the Sydney CBD strata market. Like North Sydney, Crow’s Nest / St Leonard’s strata stock is made up of a mix of B, C and D grade buildings. The average size of a strata development in the precinct is 1,700 sq m.

The Crows Nest / St Leonard’s strata market has experienced significant growth in size during recent times, increasing 35% over the past three years. , declining in size by 10% over the same period due to redevelopment of commercial space, predominately to mixed-use residential. His ha s resulted in a lower level of freehold stock in the market (the stock demolished or re-developed to mixed-use) and has increased the supply of strata commercial space, which typically comprised the ground and lower levels within new developments.

The most recently completed strata subdivision is 156 Pacific Highway comprising 3,400 sq m across 27 suites. There are currently no significant strata projects in the pipeline, however, two small scale mixed-use developments are at early stages of the development cycle.The vacancy rate in the Crows Nest / St Leonard’s strata market increased from 8.7% in July 2006 to 10.1% in January 2007 (Property Council of Australia), however continues to trend below the freehold vacancy of 11.3%.

The strata leasing market was steady 2006 with net absorption for the 12 month period of 2,595 sq m, albeit down from 2005 (6,121 sq m). However, this demand was not sufficient to meet the 3,800 sq m of new supply entering the market, leading to the increase in strata vacancy.In the 12 months to March 2007, gross effective rents for strata space experienced modest growth to range from $230/sq m to $300/sq m. Incentive levels continue to average 25%.

Property Valuation

How To Beat Competition In Valuation

Running a valuation business is not as easy as it was a few decades or even a few years ago. There have been changes in the way valuation business is being done and also the way customers perceive this business. It is therefore important for valuers to find out ways and means by which they can move their business from one level of success to another. It might call for thinking out of the box, having a relook at the entire business model or even trying out new marketing methods and techniques just to name a few. However, at the end of the day, the final objective must be to add more value to customers. Towards this objective, the time tested methods of customer focus, hard work, transparency, honesty and good business ethics still continue to be extremely relevant.

Now coming to specifics that can help in tackling competition, the need of the hour is to find out ways and means by which valuers can improve their networking capability and relationship building capacity. There are many ways and means by which this can be done. The internet without any doubt is the best place where networks can be efficiently built and new relationships nurtured. However, this process will not happen overnight but will take time and effort.

While having a website of your own is a good way to move forward, as a valuer one should ensure that there is enough traffic flowing into the website. This might call for taking the help of professionals. Further it would also not be a bad idea to go in for memberships with like minded institutions or organizations. Taking memberships in reputed chambers of commerce is certainly a wonderful way by which valuers can reach out to more number of prospects including some good banks and financial institutions. Offering online valuation is another way by which customers can move from one level of success to another. This is because online valuation is certainly a good value proposition for customers who are hard pressed for time. While being competitive on the price front is also becoming very important, as a valuation service provider you should know where to draw the line between price-effectiveness and quality of service. Last but not the least, improving turnaround times is also something that should always be kept in mind.