Valuer S [2019] NZVRB 3

Valuer S completed a valuation report dated 7 April 2016 for a residential property for the complainant. The valuation was “…for current market value and mortgage purposes”. Valuer S assessed the market value at $623,500 inclusive of chattels and GST. The property as described by Valuer S comprises a good quality three bedroom semi-detached dwelling with a basement single garage, a main floor single garage and a separate two-bedroom self-contained semi-detached dwelling. The two dwellings are located on a full section in a residential suburb. In their report Valuer S described their valuation as a current market value of the property utilizing “The Direct Comparison Approach based upon an analysis of comparable sales”