We provide regular property related news blogs to keep our clients informed of what effect important economic, financial and business events and reports will have of the Perth and Western Australian property market.If you wish to receive our regular blogs:
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Matt Garmony, Licensed Valuer elected to the WA State Committee of the API
Wednesday, September 18th, 2019Garmony Property Consultants Managing Director and Licensed Valuer, Matt Garmony, was advised today by the Australian Property Institute (API) that he has been elected as a WA State Committee Member of the API. In his response to the API on news of his appointment, Matt stated “Although I have been active on numerous sub-committees and represented the API on several panels since 2004, I have not been on the state board/committee since my last term in 2001-2004. I look forward to being an ongoing and active member of the API and the property industry.” Matt was chairman of the Young Property Professionals ...
Read morePre-purchase & Pre-sale Valuations
Tuesday, September 17th, 2019The Licensed Valuers at Garmony Property Consultants undertake numerous pre-purchase and pre-sale valuations for a wide variety of property types. Purchasers, who are unsure of how much to offer on a property that is on the market ‘for sale’, often want an independent, unbiased and justified opinion on the market value. Sellers, who may have a unique property or have had had conflicting appraisals from local real estate agents, or are acting as an executive of an estate, often request us to provide pre-sale valuations for an independent, unbiased and justified opinion of the market value. A pre-purchase or pre-sale ...
Read moreValuations for Family Court
Friday, August 30th, 2019Garmony Property Consultants’ Licensed Valuers are specialists in providing valuations for matrimonial disputes, family law and the Family Court of Western Australia. Our licensed valuers have a wealth of experience in valuations for Residential, Commercial & Industrial property types. We can tailor our valuation reports for each client. We generally provide shorter reports for amicable meditations, whereby the parties are in agreement and just need an independent assessment of the market value. Our licensed property valuers can also provide a more detailed expert valuation report, suitable for the Family Court, if it is known the matter will be heard before ...
Read moreProud supporter of the Rotary Car Show 2019
Tuesday, August 13th, 2019Garmony Property Consultants, Licensed Valuers, are again proud to be supporters of the 2019 Rotary Club of Como, 8th Classic Car Show. Get on down to Wesley College in South Perth on Sunday 6th October from 10am to enjoy the brilliant display of classic cars. All net proceeds support the Rotary Club of Como and Wesley College charities. You may wish to display one of your own classic cars. For more information go to http://comorotarycarshow.com/ Rotary Club of Como Classic Car Show 2019
Read morePerth Subdued Residential Market Update – Valuers Perspective
Friday, August 2nd, 2019Our Perth based property valuers continue to report subdued market conditions in the residential valuations they undertake. The Perth residential property market continues its long term slump. The median house price has fallen from $540,000 in June 2015 to $490,000 in June 2019 according to REIWA’s statistics. Sales volumes have also declined from 7116 homes to 4284 homes over the same period. WA Business News reported on 1 August 2019 that “Perth’s house price woes have worsened further, after it recorded the sharpest decline in median price of all Australian capital cities in June.” These subdued residential property market conditions in Perth ...
Read moreCOUNCIL RATES & GROSS RENTAL VALUE OBJECTIONS
Friday, August 2nd, 2019July & August is when the Local Councils and Shires send out their annual Rates Notices. Landowners often question the amount of Council Rates that are required to be paid. In most circumstances, commercial property landowners pass the cost onto the tenants, who then dispute the amount of rates to be paid. Only the Gross Rental Value or GRV can be objected to. Not the rate in the dollar. Council Rates are based on a rate in the dollar of the Gross Rental Value (GRV) assessed by the Valuer Generals Office at Landgate. Under the Valuation of Land Act 1978, “Any ...
Read moreUnimproved Value objection for Land Tax purposes
Tuesday, July 23rd, 2019It is now the time of the year that Department of Finance – Office of State Revenue’s Land Tax notices are being delivered to landowners. Landowners often question the amount of Rates that are required to be paid. In most circumstances, commercial property landowners pass the cost of Land Tax onto tenants, who then dispute the amount of rates to be paid. Only the Unimproved Value or UV can be objected to. Not the rate in the dollar. This requires a Unimproved Value objection for Land Tax purposes. Land Tax is an annual tax, based on a rate in the dollar ...
Read moreMarket Rental Valuation Reports – What should they include
Monday, July 22nd, 2019The Licensed Valuers at Garmony Property Consultants prepare detailed Market Rental Valuation Reports for Market Rent Reviews. So what do our reports include? Our valuation reports need to meet the strict guidelines and standards of the Australian Property Institute (API). It also needs to comply with the Code of Conduct for Expert Witnesses and in Australian Courts or Tribunals. The reader of the valuation report needs to obtain a clear understanding of the property, its location and its legal description. In some circumstances, the reader may be a judge, magistrate or mediator who has never visited the Property or Premises. So ...
Read moreCertified Practising Valuers
Thursday, June 13th, 2019A Certified Practising Valuer is Valuer meeting the requirements for Certified Practising Valuer as defined by the Australian Property Institute (API). All Licensed Valuers employed by Garmony Property Consultants are Certified Practising Valuers. The API’s description and definition of a Certified Practising Valuer is as follows; Certified Practising Valuer is a person who, by education, training and experience is qualified to perform a valuation of real property in an objective and independent manner to help reduce risk and provide greater certainty for their clients. Certified Practising Valuers, who are accredited with the API, are industry professionals, the most highly qualified and recognised ...
Read moreChurch & Charitable Institution Valuations
Tuesday, May 7th, 2019Valuations of churches and other buildings owned by charitable or not for profit organisations are just some of the specialist properties our Licensed Valuers undertake on a regular basis. Historically, churches were located in residential areas. They often included halls and a manse/rectory/parsonage/vicarage (house attached to the church) depending which religion the church was. However obtaining approvals to build a church in a residential area is now more difficult due to noise and parking problems. We are now seeing churches being constructed in commercial and industrial locations. Some of these churches are multi-leveled, multi-use buildings with large auditoriums, class rooms, ...
Read moreMarket Rent Reviews for Retail Shops in Perth
Friday, April 26th, 2019It is important to obtain expert valuation advice from a licensed valuer for Market Rent Reviews particularly for Retail premises. The Commercial Tenancy (Retail Shops) Agreement Act 1985 has provisions to assist tenants, particularly in the Market Rent Review process. The requirement for disclosure statements, minimum 5 year tenancies, no ‘Ratchet’ clauses and single rent review methods are just some of the few provisions the Retail Shops Act has to assists retail tenants. With the showroom and retail market rental values falling over the past few years, it is important for landlords and tenants to obtain accurate rental valuation advice ...
Read more35 Years of Property Valuation Advice in Perth
Friday, March 29th, 20192019 marks 35 years of providing expert Valuation and Property Consultancy advice in Perth and Western Australia for the Licensed Valuers at Garmony Property Consultants. Established in 1984, initially as John Garmony & Associates, the property valuation company immediately became one of Perth’s first and foremost independent property valuation & consultancy firms. In 2006, the company changed it’s name to Garmony Property Consultants with Licensed Valuer, Matt Garmony, taking over as Managing Director. Since 1984, the company’s licensed valuers at have acted in a wide range of property valuation consulting situations on numerous property types throughout Perth & Western Australia. For 35 years, ...
Read moreRetirement Village Valuers – Transferable Leasehold Valuations
Thursday, March 28th, 2019A valuation of a Transferable Leasehold Interest of an Independent Living Unit (ILU) at a retirement village is different to valuing a standard home or strata titled unit. The Licensed Valuers at Garmony Property Consultants have been undertaking Transferable Leasehold Interest Valuations since the late 1980’s in the greater Perth Metropolitan Area, South West and Great Southern areas of Western Australia. The main difference with a valuation of an Independent Living Unit with a ‘Lease for Life’ compared to a strata title unit, is that with a ILU, you do not actually own the land and buildings. You only have a ...
Read moreValuations for Family Court in WA
Thursday, March 14th, 2019The Licensed Valuers at Garmony Property Consultants are specialists in providing valuations for matrimonial disputes and the Family Court of Western Australia for Residential, Commercial & Industrial property types. Our valuers can act for a single party to the dispute or as a single expert where we are instructed by and provide our valuation report to both parties, eliminating further disputes and streamlining the divorce process in relation to the division of property assets. We can tailor our valuation reports to our clients requirements, providing shorter reports for amicable meditations, whereby the parties are in agreement and just need an independent assessment of ...
Read moreCompensation Valuations & Advice
Tuesday, October 9th, 2018The State Government has the power under various legislation to reserve and or resume the whole or part of your land for a public work (roads, railways, parks and recreation, bush forever etc.) Under the Land Administration Act 1997 (LAA) and the Planning & Development Act 2005 (PDA) land owners have a right to claim compensation for the reserved land or land taken for the public work.Our licensed valuers have a wealth of experience in providing compensation valuations and or consultancy advice for dispossessed land owners for a broad range of property types. In addition to providing compensation valuations for ...
Read moreValuation clients reviews
Friday, August 3rd, 2018Garmony Property Consultants are very proud of the feedback we have received from our valuation client reviews, who are very satisfied with our property valuation services and knowledge of the Western Australian property market. From retirement village valuations to specialised property ground lease market rent reviews, government asset valuations to expert valuations for litigation purposes, residential developments to commercial offices and everything in between, our licensed valuers have the experience and expertise to undertake most property valuation assessments. Click on the logos below to read the reviews from some of our happy clients or head to our reviews page on ...
Read morePerth Residential Apartment Market Update
Friday, August 3rd, 2018The Perth residential apartment market is set for an extended trough in the property market cycle. A report by WA Business News (WABN) in June 2018 indicated 26 major apartment projects, with greater than 50 apartments per complex. These projects, situated in the Perth CBD and inner suburban localities, are either proposed or under construction, and will produce approximately 4,060 dwellings. WABN stated a further 4 major projects are at planning or approval phase, including 4,500 residential apartments proposed at the Belmont Park precinct, 324 apartments at Iconic Scarborough, 300 residential apartments at EQ West (Elizabeth Quay) and 220 apartments at ...
Read moreMarket Rent Reviews – The Need for expert valuation advice
Monday, July 30th, 2018It is well publicised that the commercial, industrial and retail property market has declined in recent years following a downturn in the Western Australian economy. In these conditions, it is important to obtain expert valuation advice for Market Rent Reviews. The commercial office market has been the hardest hit, with significant reductions in rents and a surplus of offices available for lease, particularly in the fringe CBD and inner suburban locations of Perth. This surplus provides tenants with many opportunities and an ability to negotiate favourable lease terms for new space. Examples have included significant rental abatement’s of between 25%-50% ...
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