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Analysis finds report over-estimated land value volatility

In May 2013, the Joint Standing Committee on the Office of the Valuer General made public its report on the Inquiry into the Land Valuation System.

As part of its Inquiry the Committee commissioned Crowe Horwath to provide a statistical analysis of land valuation data for the period 2000 to 2011.

The report, which is included as an appendix to the Committee’s final report, is available on the Inquiry into the Land Valuation System web page.

The report by Crowe Horwath found that individual property holders experience material volatility in land values and that land values over time correlate to the market.

Following publication of the Crowe Horwath report the Valuer General commissioned Professor John MacFarlane of the University of Western Sydney to examine the report and its findings.

Professor MacFarlane has concluded, following a detailed analysis, that Crowe Horwath substantially over-estimated volatility in land value movements over the period examined.

For more information on Professor MacFarlane’s findings a copy of the report is available below.

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Examination of the Report: 'Statistical Analysis of Land Valuation Data' produced by Crowe Horwath for The Joint Standing Committee on the Office of the Valuer General

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