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Legislative Assembly for the ACT: 2002 Week 7 Hansard (6 June) . . Page.. 2162..


(Question No 207)

Mr Stefaniak asked the Minister for Urban Services, upon notice, on 4 June 2002:

In relation to valuation of ACT Housing stock (refer QON No 39):

(1) Is Egan National Valuers (ACT) the only valuer used for valuations of ACT Housing stock.

(2) How long has Egan National Valuers been used for valuations of ACT Housing stock.

(3) Did Egan National Valuers tender for the valuation of ACT Housing stock.

(4) In relation to each dwelling unit that has been sold by ACT Housing since 1 July 2001, provide:

(a) the book value of each property before it was prepared for sale:

(b) the valuation given by the valuer before sale; and

(c) the sale price achieved.

Mr Wood: The answer to the member's questions is as follows:

(1) No. ACT Housing values its properties for a number of different reasons. There is an annual valuation of the whole portfolio which is tendered on the basis of one or two tranches. As a result of the most recent tender conducted in 2001, Egans National Valuers (ACT) are the only valuers for the annual valuation of the public housing property portfolio.

However, for each property sale, independent valuers are engaged to determine the reserve price or the price at which a sale to tenant is agreed. In the case of a sale of a large property, generally two valuations are obtained.

Valuations are also required to assist in determining ACT Housing's liability for change of use charges and to enable decisions to be made on options for refurbishment, redevelopment or sale of some properties. Other valuers used in these processes include the Australian Valuations Office, Colliers Jardine Pty Ltd, Ray L Davis & Company Pty Ltd, McCann and Associates and Property Concept & Management Pty Ltd.

(2) Egan National Valuers (ACT) have undertaken the valuation of the property portfolio for the past three years, 1999, 2000 and 2001 as well valuations in earlier years depending upon their success in winning the contract for the valuation of the public housing property portfolio.

(3) Yes. Egan National Valuers (ACT) won the tender for the annual valuation of the public housing property portfolio in 1999, 2000 and 2001. The latest (2001) tender provides for Egans to undertake the valuation for three years, commencing in 2001 should ACT Housing agree to renew the contract. At this stage it is expected that the contract will be extended for the third year after which a new tender process will be held.

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