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Property Market Analysis in the Valuation Process: A Survey of Australian Practice

Author/s: Lynne Armitage, Martin Skitmore

Date Published: 1/01/2003

Published in: Volume 9 - 2003 Issue 4 (pages 330 - 347)

Abstract

The nature of property valuation/analysis is examined in respect of the property market and, in particular, the extent of property market analysis undertaken by practitioners when carrying out property valuations. An empirical survey is described of a sample of 240 valuers throughout Australia and their practices in valuing investment grade property. It is shown that, although the valuers are fully aware of the need for property market analysis, and collect appropriate data to do the analysis, the analysis itself is seldom conducted in other than a cursory manner.

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Keywords

Land Economics - Property Market Analysis - Property Market Characteristics - Real Property Valuation - Valuation Practice

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