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Paper eres2012_359:
Is the valuer the barrier to identifying the value of sustainability?

id eres2012_359
authors Georgia Warren-Myers
year 2012
title Is the valuer the barrier to identifying the value of sustainability?
source 19th Annual European Real Estate Society Conference in Edinburgh, Scotland
summary Broad-scale investment in sustainability is limited due to the lack of evidence of the relationship between sustainability and the property’s market value. Although evidence is being found, this evidence is not being reflected in the valuation process. Valuers have a pivotal role in financial markets, in the reporting of asset values. Consequently, they are the current barrier in large scale investment in sustainability, due to their lack of reporting or considering sustainability in the valuation process. This research investigates, in the Australian context, whether valuers’ are incorporating sustainability as a consideration in the valuation process and their depth of reporting on it. Further, the research investigates whether valuers’ have the knowledge and skills to accurately report on sustainability in the valuation process. The research highlights the implications for the broader market and the valuation profession, as a result of the valuers’ current lack of knowledge, skills and ability to incorporate or consider sustainability in the valuation process. The potential for inaccurate knowledge regarding sustainability being incorporated in the valuation process is very high, and could potentially have litigious issues in the future. There is an imperative requirement for investigation into appropriate, accurate knowledge development in the field of sustainability for the valuation profession.
series ERES:conference
type normal paper
email g.warrenmyers@deakin.edu.au
discussion No discussions. Post discussion ...
ratings
session Parallel Session E5
last changed 2014/10/21 21:51
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