Development valuation Value what can be built, and say what is assumed.
Two report types cover development work: a development site report values land mainly for what can be built on it, and an as if complete report values an approved scheme as though it were finished. Valufield drafts each from its own template and checks that the assumption is stated and used.
Two types, two different values.
Both state a value at a stated date, never a forecast.
Development site
The market value of land whose value comes mainly from its potential. It covers en-bloc and amalgamation sites, sites with an approved DA or CDC, and vacant development or growth-area land.
Market value as if complete
The value on the special assumption that an approved development has been completed to the approved plans, as at the valuation date. It is not the value as is, and not a forecast.
Who instructs them
Clients negotiating with a developer or council, preparing financial reporting or a stamp duty return, or weighing a feasibility. A funding or sale discussion also fits as if complete.
Planning facts, then the assumption.
The valuer confirms the planning facts before any wording is suggested.
Controls, approvals, title
The valuer confirms zone, floor space ratio, height, minimum lot size, the DA or CDC status and the second schedule items. The template works out potential gross floor area from them.
One special assumption section
The assumption is named once, with its source and a refer-back trigger. For as if complete it lists the approval, the plans, the standard of finish and that an occupation certificate has issued.
Method, then valuer’s figure
Both use direct comparison with an adjustment grid. A residual cross-check is required for as if complete when there is an approved scheme and a cost plan. The value and rates are the valuer’s, never AI’s.
The assumption must be visible.
BLOCK means fix it before release, and WARN means look and decide.
Same basis everywhere
The basis of value must read the same in the summary, instructions, valuation and certificate. A special assumption needs its own section, and the value statements must name it.
No premium, no forecast
An en-bloc premium inside a figure called market value is a BLOCK unless the assumption is stated. As if complete is blocked if it calls the value current market value, and warned if it reads as a forecast.
Grids and residuals add up
Adjustment grids are recomputed, and adjustments must be netted, not compounded. A residual may be claimed only if it is shown with its lines, and a one-line sale discount must name its evidence.
Peer review, then release
A second valuer reviews the recorded file. Release is a separate gated step, and it never emails the client.
Straight answers.
When do we use as if complete instead?
Use it when the value is of an approved scheme assumed finished. Use the development site type for land with its approval as it stands, or an en-bloc or amalgamation value.
Does the template include a residual calculation?
It has an optional residual cross-check, and every line needs a source from the job. The checker blocks a report that claims a residual it does not show.
Are these templates approved?
No. They are drafts for your principal’s review and a starting point. Keeping to professional standards and your insurer’s requirements stays with your firm.
See it on a job like yours.
Tell us about your firm and we will show you Valufield on your kind of work, including what is released today and what is still in build. The form takes about a minute, and a person replies.
- We reply to arrange a time.
- We walk through the product on your kind of work.
- You decide, with no obligation.
Rather email? support@valufield.com.au