© AskTheValuer. All rights reserved. 2008-2017  

Store

Cupidatat voluptate Ut adipisicing, in cillum cupidatat voluptate esse $0.00   
Article 2:  Factors that Affect Real Property Values Whether you are purchasing Melbourne property to live in or for investment, OR you currently own a Melbourne property and you are contemplating selling or perhaps refurbishing, subdividing or redeveloping it, knowing the factors that affect real property values is essential and could save/make you a wheelbarrow load of money! So what factors have an effect on Melbourne property values? Locational Attributes Location...Location...Location! You must have heard this one before so many times whenever the subject of property is brought up. Indeed, "location is king" as far as property values are concerned. A property's location in relation to amenities, communal facilities, public transport, etc. is what gives its location value. For example:      
Type of Property • Residential property: • Commercial property: • Retail property: • Industrial property:
Location in relation to: schools/kindergartens, childcare, shopping, bus/tram services, railway station, parks, playgrounds, community amenities, freeway access, etc. shops, bus/tram services, railway station, parking, restaurants, cafes, etc.  bus/tram services, railway station, main road exposure, carpark, adjoining retailers, demography of target market, size of surrounding catchment, inbound/outbound trafiic side of road, etc. proximity to main roads, freeway access, proximity to suppliers, seaport, airport, etc.   
Physical Attributes The most obvious are the tangible attributes of the site, non-building improvements and building(s) on the site. The Site A property's site attributes such as its size, shape, frontage, depth, soil type, gradient, view and exposure can individually or collectively increase/decrease its value. Different types of property will be affected differently by each of these site attributes. Non-Building Improvements These include gardens/landscaping, retaining walls, paving, swimming pools, tennis courts, fencing and services for residential properties. Or could include car parking spaces, hardstand areas and security fencing for industrial propeties. Building Improvements A building's size, design (especially facade and layout), condition, quality, architecture, internal fitout, street appeal, amenities and other features can add to or detract from a property's value.
Economic Forces A typical textbook explanation of this would refer to the relationship between supply and demand. The textbook would add that economic forces relate to the ability of the population to satisfy its wants, needs and demands through its purchasing power. Examples: employment, stock of vacant buildings, buildings under construction, occupancy rates, current market rents and construction costs. These textbook stuff, believe it or not pretty much reflect the real world in many ways.   Government Forces The legal climate at any given time may overshadow the natural market forces of supply and demand. This may influence values via (a) provision of public services such as transport, fire and police protection, and rubbish removal; or (b) building codes and zoning, with special mention to those that obstruct or support land use. For example, many government agencies will only lease an office building that achieves a set minimum energy efficiency star rating. Other Other factors that could have an impact on the value of your Melbourne property could include legal, psycholo- gical and environmental attributes, and social and environmental forces.
Valuation Articles   - Automatic Valuation  - Factors affecting Value  - Different from Appraisals  - More about Valuations A bit about Melbourne  - Melbourne’s Buildings  - Study in Melbourne  - Melbourne’s Weather  - Melbourne’s Economy   Property Information  - Building Construction  - Highest & Best Use  - Project Feasibility  - GST & Property  - Title, Encumbrances, etc.  - Due Diligence Live-Work-Invest - Migrants in Melbourne - Investing in Melbourne Resources - Rates & Taxes - Stamp Duty

Servicing ALL Suburbs within Metropolitan Melbourne  

Ask The Valuer
www.askthevaluer.com.au

© AskTheValuer All rights reserved. 2008-2017 

Store

Cupidatat voluptate Ut adipisicing, in cillum cupidatat voluptate esse $0.00   
www.AskTheValuer.com.au
Ask The Valuer
Article 2:  Factors that Affect Real Property Values Whether you are purchasing Melbourne property to live in or for investment, OR you currently own a Melbourne property and you are contemplating selling or perhaps refurbishing, subdividing or redeveloping it, knowing the factors that affect real property values is essential and could save/make you a wheelbarrow load of money! So what factors have an effect on Melbourne property values? Locational Attributes Location...Location...Location! You must have heard this one before so many times whenever the subject of property is brought up. Indeed, "location is king" as far as property values are concerned. A property's location in relation to amenities, communal facilities, public transport, etc. is what gives its location value. For example:      
Type of Property • Residential property: • Commercial property: • Retail property: • Industrial property:
Location in relation to: schools/kindergartens, childcare, shopping, bus/tram services, railway station, parks, playgrounds, community amenities, freeway access, etc. shops, bus/tram services, railway station, parking, restaurants, cafes, etc.  bus/tram services, railway station, main road exposure, carpark, adjoining retailers, demography of target market, size of surrounding catchment, inbound/outbound trafiic side of road, etc. proximity to main roads, freeway access, proximity to suppliers, seaport, airport, etc.   
Physical Attributes The most obvious are the tangible attributes of the site, non-building improvements and building(s) on the site. The Site A property's site attributes such as its size, shape, frontage, depth, soil type, gradient, view and exposure can individually or collectively increase/ decrease its value. Different types of property will be affected differently by each of these site attributes. Non-Building Improvements These include gardens/landscaping, retaining walls, paving, swimming pools, tennis courts, fencing and services for residential properties. Or could include car parking spaces, hardstand areas and security fencing for industrial propeties. Building Improvements A building's size, design (especially facade and layout), condition, quality, architecture, internal fitout, street appeal, amenities and other features can add to or detract from a property's value.
Economic Forces A typical textbook explanation of this would refer to the relationship between supply and demand. The textbook would add that economic forces relate to the ability of the population to satisfy its wants, needs and demands through its purchasing power. Examples: employment, stock of vacant buildings, buildings under construction, occupancy rates, current market rents and construction costs. These textbook stuff, believe it or not pretty much reflect the real world in many ways.   Government Forces The legal climate at any given time may overshadow the natural market forces of supply and demand. This may influence values via (a) provision of public services such as transport, fire and police protection, and rubbish removal; or (b) building codes and zoning, with special mention to those that obstruct or support land use. For example, many government agencies will only lease an office building that achieves a set minimum energy efficiency star rating. Other Other factors that could have an impact on the value of your Melbourne property could include legal and psychological attributes, and social and environmental forces.

Servicing ALL suburbs within Metropolitan Melbourne

Valuation Articles   - Automatic Valuation  - Factors affecting Value  - Different from Appraisals  - More about Valuations
A bit about Melbourne  - Melbourne’s Buildings  - Study in Melbourne  - Melbourne’s Weather  - Melbourne’s Economy
Property Information  - Building Construction  - Highest & Best Use  - Project Feasibility  - GST & Property  - Title, Encumbrances, etc.  - Due Diligence
Resources - Rates & Taxes - Stamp Duty