From SA Valuation of Land Act 1971

Capital Value of land means the capital amount that an unencumbered estate of fee simple in the land might reasonably be expected to realise upon sale, but if the value of the land has been enhanced by trees planted on the land (other than commercial plantations), or trees preserved on the land for the purpose of shelter or ornament, the capital value must be determined as if the value of the land had not been so enhanced;<font size=”3″>

How is it used?

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(1)     In this Act, unless the contrary intention appears—
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>annual value of land, means a value computed as three-quarters of the gross annual rental that the land might reasonably be expected to realise if leased upon condition that the landlord were liable for all rates, taxes and other imposts on the land and the insurance and other outgoings necessary to maintain the value of the land, or as five per cent of the capital value of the land, but this definition is subject to the following qualifications—
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(a)     the annual value of land held of the Crown by virtue solely of a mining lease must not exceed the amount of the rental payable to the Crown under the lease, and if the annual value of any such land would, but for this paragraph, exceed that amount, the annual value must be reduced to that amount; and
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(b)     if the value of the land has been enhanced by trees planted on the land (other than commercial plantations), or trees preserved on the land for the purpose of shelter or ornament, the annual value must be determined as if the value of the land had not been so enhanced; and
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(c)     if the value of the land is enhanced by the existence on the land of any fixtures, consisting of prescribed machinery, plant or equipment the annual value of the land must (where the annual value is computed on the basis of gross annual rental, but not otherwise) be reduced by an amount representing depreciation on that machinery, plant or equipment; and<!–[if gte mso 9]> Normal 0 false false false EN-AU X-NONE X-NONE MicrosoftInternetExplorer4 <![endif]–><!–[if gte mso 9]> <![endif]–>
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(d)     where it is not reasonably practicable to determine a gross annual rental in relation to land, the annual value of the land must be computed on the basis of the capital value of the land;
<p style=”margin: 6pt 0cm 0.0001pt 39.7pt;line-height: normal” class=”MsoNormal”>site value of land means the capital amount that an unencumbered estate in fee simple in the land might reasonably be expected to realise upon sale assuming that any improvements on the land, the benefit of which is unexhausted at the time of valuation, had not been made; for the purposes of this definition—
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(a)     improvements means—
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(i)     buildings and structures (but not including structures in the nature of site works); and
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(ii)     wells, dams and reservoirs; and
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(iii)    the planting of trees for commercial purposes;
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unimproved value of land means the capital amount that an unencumbered estate of fee simple in the land might reasonably be expected to realise upon sale assuming that any improvements on the land (except, in the case of land not used for primary production, any site improvements), the benefit of which is unexhausted at the time of valuation, had not been made; for the purposes of this definition—
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(a)     improvements means houses and buildings, fixtures and other building improvements of any kind whatsoever, fences, bridges, roads, tanks, wells, dams, fruit trees, bushes, shrubs and other plants planted or sown, whether for trade or other purposes, draining of land, ringbarking, clearing of timber or scrub and any other actual improvements;
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(b)     site improvements means reclamation of land by draining or filling, and any retaining walls or other structures or works ancillary to that reclamation, the excavation, grading or levelling of land, the removal of rocks, stone, sand or soil, and the clearing of timber, scrub or other vegetation;
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value in relation to land means the annual value, the capital value, the site value and the unimproved value of the land or any one or more of those values; to value means to determine or assess those values or any one or more of them; and determination of value or valuation means a determination or assessment of those values or any one or more of them.

Yes SNM, I noticed that they obviously feeling the pinch on the North Shore as the bottlo is selling Grange at a per bottle price of $500 (if you buy by the dozen).

Any valuer worth his/her salt must value the property in accordance with the valuation principles set out by the API (if they are a member, most are). That means, they must review the zoning of the land and establish the highest and best use, even if they know the property is being sold as a development site.

Go back to your original valuer, advise that they may have missed something on the block as you 'believe the zoning allows units' hence they can lend weight to the argument that the block is worth more. Present that valuation to the bank.

There is no one definitive source of information and each commentator has their own opinion on the issue depending upon their angle. One report may say that housing commencements have increased by 10% on the previous quarter but they may still be below long term average or below the same time last year.

I did some research on this mob myself (a few well placed phone calls).

The model is based upon buying older houses at the cheap end of the market (western sydney) via on market deals through real estate agents. The inhouse staff do the research and the buyers agents do negotiations (fee is on their website). The same properties are floated around the group.

Apparently they run a basic intro – 10 week discussions/seminars/games etc. Then possibly onsell more intensive courses. For some it works for others they just keep ticking along.

By the sounds of it, if what has been said about this mob is true, then they may be worthwhile.

It will be done with your knowledge – you just need to understand what you are signing.

• As I am considering using a buyer's agent (see separate post under general), what did they promise, what advice/research etc did they deliver (other than zip)?
• Was the agent affiliated with an real estate/spruiker, tied to various projects or were they truly 'independent'?

It depends upon what you mean by 'cheaply'.  A sprayed job will always look much better than one applied by brush. Call one of the spray mobs, it will probably cost less than $1k.

You will need to look at the table which gives you the index starting at 100.00 (about 1948?). Then you use the commencing index & current index numbers

If itis hecs, then no.