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The valuation of contaminated land – Methods adopted in the UK and NZ

The valuation of contaminated land – Methods adopted in the UK and NZ Increasing litigation involving land contamination and an escalation in the number of incidents where property owners have suffered financial losses from these cases has resulted in negative impacts on property values and greater risks associated with investments in contaminated property. To date, there has been little systematic research on the valuation methodology that accounts for these risks. To help address this, two similar surveys were undertaken within New Zealand (NZ) and the United Kingdom (UK), the results of which are summarised here. The survey instruments were designed to determine what the respondents are currently doing when providing advice or producing valuations to account for the financial risks associated with investing in contaminated properties. It is hoped that the survey results will aid the process of developing “best practice” methodologies for use by valuers. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Property Investment & Finance Emerald Publishing

The valuation of contaminated land – Methods adopted in the UK and NZ

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Publisher
Emerald Publishing
Copyright
Copyright © 2000 MCB UP Ltd. All rights reserved.
ISSN
1463-578X
DOI
10.1108/14635780010324781
Publisher site
See Article on Publisher Site

Abstract

Increasing litigation involving land contamination and an escalation in the number of incidents where property owners have suffered financial losses from these cases has resulted in negative impacts on property values and greater risks associated with investments in contaminated property. To date, there has been little systematic research on the valuation methodology that accounts for these risks. To help address this, two similar surveys were undertaken within New Zealand (NZ) and the United Kingdom (UK), the results of which are summarised here. The survey instruments were designed to determine what the respondents are currently doing when providing advice or producing valuations to account for the financial risks associated with investing in contaminated properties. It is hoped that the survey results will aid the process of developing “best practice” methodologies for use by valuers.

Journal

Journal of Property Investment & FinanceEmerald Publishing

Published: Apr 1, 2000

Keywords: Contaminated land; Methods of valuation; Valuation; Contamination; Costs

References