Property Valuation

Factors leading to successful valuation

There are many factors that are considered while valuating a Brisbane Property Valuers by a valuer. Keeping an account of the sale of property of nearby area helps a lot in getting a precise figure. Land value and site value from the local government bodies can help getting a good value. for small to medium sized suites. Rates on vacant buildings have recently been placing greater pressure on landlords and their agents to achieve increased occupation of premises to curb increasing outgoings. For the first time landlords are paying 50% rates for unoccupied space. To date, this has had little effect on rents and lease terms, but as time progresses it could be argued that pressure will build on securing lettings.

Proper improvement of the property or any changes in the property before valuation or building inspection reports can help in appreciation of property, all the nearby amenities and improved local facilities add to the value to property. A good supermarket nearby, schools, playgrounds, gyms, clubs etc in the surrounding area adds up in the overall valuation of the property. Much has been written about the closure and relocation of Northern Ireland’s traditional manufacturing base over the past two years and this has shown no sign of abating in 2005. We successfully sold the 15,000 sq. m. former Valence Technology complex in Mallusk, which was vacant for twelve months after the company moved production to China. In March we placed the 4,200 sq. m. former Multimedia Infotech premises in West Belfast on the market. It is expected to achieve in the region of £1.6 million.

All these factors are considered while valuing a property and helps valuer get the perfect valuation for property. The closure of this production facility and relocation of 65 jobs to Taiwan follows a number of closures and announcements including Teleflex Medical, relocating 270 jobs from Lurgan to Malaysia, further losses at Shorts, Adria, M&S, Riverside Textiles, Elastic Knitting and Ritek in Omagh totalling losses of over 1,196 jobs throughout the industrial sector.

This transaction, which we negotiated, will provide a huge boost to North and West Belfast and follows swiftly on the opening of the Yell call centre. The decline of traditional manufacturing should not be viewed in isolation. Positive news came in the last six months with the announcement by LBM of their intention to locate here.





Property Valuation

Why Is Property Valuation An Important Element Of Real Estate Business

For calculating the price of the property it has become a compulsory process to find a property valuer. A property valuer will always provide you with quality services to deal with your process. To complete the process it requires facing many steps in between the process of property valuation. But as the valuer is knowledgeable it is not a hard task for him to complete the process and calculates an idea about the price of your house. The steps that come in between the property valuation process are like managing legal paper work which is important I n he process and inspecting the property to find its value. This way you can make your house more usable and beneficial to use.

There are no major strata office projects currently under construction (excluding mixed developments). However, 100 Mount Street and 75 Miller Street both have development approval for subdivision, ye t remain in sole ownership following unsuccessful sale campaigns. Combined these two buildings comprise 8,000 sq m of strata stock that could be offered to the market. The Chats wood to Epping rail link due for completion in 2008 and the redevelopment of the transport interchange to be completed late this year, are both good news for the Chats wood market. Both will boost the appeal of the market to tenants and investors alike.

The Chats wood market has also declined in size, but at a much slower rate to that experienced by North Sydney. property valuation reports market has decreased 2.3% since its peak of 305,883 sq m in January 1998. Like North Sydney, developer activity in the market has moved towards residential development as opposed to commercial due to challenging fundamentals in the office sector and proximity to Sydney CBD. The Crows Nest / St Leonard’s market has bucked this trend, increasing 22.7% in size over the past 10 years, albeit off a relatively low base. To place this in perspective, the Sydney CBD market increased 26.0% over the same period.

As a fringe market the North Shore has benefited from improving conditions in the Sydney CBD, in particular, increasing rents and declining vacancies on the back of strong demand. However, competition from competing fringe markets such as Piermont, Ultimo and Macquarie Park will continue, placing a cap on the spillover effect. Evidence of the flow-on effect from improving conditions in the Sydney CBD, combined with growth in white collar employment (WCE) in North Sydney, has been evidenced via reductions in incentives levels, increasing effective rents and reduces d vacancies across the North Shore.