Purpose

This study updates and extends the current work on the issue of accuracy of property valuation. The paper investigates the factors that contribute to property valuation inaccuracy and examines different strategies to achieve greater accuracy in practice.

Design/methodology/approach

An online questionnaire was designed and administered on the Australian Property Institute (API) registered valuers, attempting to examine their perceptions on the current state of valuation accuracy in Australia. The variables/statements from responses are ranked overall and compared for differences by the characteristics of respondents.

Findings

Using mean rating point, the survey ranked three factors; inexperience valuers, the selection, interpretation and use of comparable evidence in property valuation exercise and the complexity of the subject property in terms of design, age, material specification and state of repairs as the most significant factors currently affecting valuation inaccuracy. The results of a Chi-square test did not, however, show a significant statistical relationship between respondents' profile and the perception on the comparative importance of the factors identified. Except for valuers' age and inexperience valuers and valuers' educational qualification and inexperience valuers and the selection, interpretation and use of comparable evidence in property valuation exercise. Also, the three highly ranked strategies for reducing the level of inaccuracy are: developing a global mindset, use of advanced methodology and training valuers on market forecasting skills.

Practical implications

In order for valuers to provide state-of-the-art service to the public and to remain relevant, there is a need to accurately and reliably estimate valuation figures. Hence, the strategies highlighted in this study could be considered in a bid to reduce property valuation inaccuracy in practice.

Originality/value

This study provides an updated overview of the issue of property valuation inaccuracy in the Australia valuation practice and examines the strategies to reduce it.

中文翻译：

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影响澳大利亚房地产评估准确性的因素的最新调查

目的

这项研究更新并扩展了当前有关财产评估准确性问题的工作。本文调查了导致财产评估不准确的因素，并研究了在实际中实现更高准确性的不同策略。

设计/方法/方法

设计了一个在线问卷，并在澳大利亚房地产协会（API）的注册估值师处进行管理，试图检验他们对澳大利亚当前估值准确性状况的看法。回应中的变量/陈述会整体排名，并根据受访者的特征比较差异。

发现

使用平均评分点，调查对三个因素进行了排名；经验不足的估价师，财产评估活动中可比证据的选择，解释和使用以及标的财产在设计，使用年限，材料规格和维修状态方面的复杂性是当前影响估价准确性的最重要因素。但是，卡方检验的结果并未显示出受访者的个人资料与对所确定因素的相对重要性的看法之间存在显着的统计关系。估价师的年龄和经验不足的估价师以及估价师的教育资格和经验不足的估价师，以及在财产估价活动中选择，解释和使用可比证据的情况除外。还，

实际影响

为了使估值师能够向公众提供最先进的服务并保持相关性，需要准确而可靠地估算估值数字。因此，可以考虑本研究中突出显示的策略，以减少实践中的房地产评估不准确。

创意/价值

这项研究提供了澳大利亚估价实践中财产估价不准确问题的最新概述，并研究了减少该问题的策略。