Thomas Corner Valuations

Certified Property Valuer in Victoria

Welcome to Thomas Corner

Certified Property Valuer

I’m Thomas Corner, a certified property valuer with over 18 years of experience providing accurate and reliable valuations across Victoria. Buying, selling or investing in property is a big decision, and having an independent valuation of the property’s true market value is essential.
As an experienced and fully accredited valuer, I undertake thorough inspections and analysis to determine a property’s value. My detailed valuation reports provide clients with a clear understanding of the property’s current market value, enabling them to make informed decisions.
Whether it’s for sale, purchase, property settlement, family law, asset assessments or any other purposes, I provide professional and independent valuations you can trust. Please get in touch to discuss your specific valuation needs.

Our Services

Residential Valuations

I undertake valuations on all types of residential properties including houses, townhouses, units, apartments and vacant land across metropolitan and regional Victoria.

Commercial Valuations

My commercial property valuations cover retail, office, industrial and other commercial sites, helping business owners, investors and financial institutions make informed decisions.

Insurance Valuations

For insurance purposes, I determine accurate replacement and reinstatement costs for residential and commercial properties.

Property Settlement Valuations

Where property is being bought, sold or transferred, my valuations provide the current market value for settlement purposes.

Family Law Valuations

During separation or divorce, my professional valuations help determine property asset values as part of settlement proceedings.

Property Advisory Services

I provide a range of advisory services to help clients make informed property decisions, including purchasing tips, sale price appraisal and investment analysis.
For an accurate, reliable and professional property valuation in Victoria, please contact me to discuss your needs. I am committed to helping clients understand their property’s true market value.

Contact Us

Valuer Insights

Two property reports showing site and capital improved values for Victorian property

Understanding Site Value vs Capital Improved Value in Victoria

In Victoria, understanding the distinction between Site Value and Capital Improved Value (CIV) is essential for property owners, especially when reviewing council rates notices, planning developments, or managing land tax obligations. These valuation terms reflect different aspects of your property’s worth and are applied in various government calculations.

This article explains the meaning of Site Value and Capital Improved Value in VIC, how they are assessed, and when each is used in legal, financial, and planning matters.

 

What Is Site Value (SV)?

Site Value is the unimproved value of land—that is, the value of the land excluding any buildings, structures, landscaping, or other improvements.

Site Value reflects:

  • Land size and location
  • Zoning and permitted use
  • Topography, shape, and access
  • Sale prices of similar vacant land
  • Local planning overlays

Site Value is used primarily for:

  • Land tax assessments (by the State Revenue Office)
  • Fire Services Property Levy (FSPL)
  • Land-only valuations in development feasibility studies

It does not account for the dwelling or other man-made additions to the property.

 

What Is Capital Improved Value (CIV)?

Capital Improved Value is the total market value of the land and all improvements on it. This includes:

  • The dwelling
  • Garages and sheds
  • Landscaping
  • Fencing
  • Renovations or additions
  • Permanent structures of any kind

CIV represents what a property would reasonably sell for in its current state at the time of valuation.

CIV is commonly used for:

  • Calculating council rates in most Victorian councils
  • Property sales comparisons
  • Valuations for residential lending and taxation purposes

 

What’s the Difference Between CIV and SV?

Feature Site Value (SV) Capital Improved Value (CIV)
Includes building value? ❌ No ✅ Yes
Used for rates? ✅ Sometimes (but less common in VIC) ✅ Commonly used for council rates
Used for land tax? ✅ Yes ❌ No
Reflects market value? ❌ Partially ✅ Yes (full market value with improvements)

Example:
If your land is worth $600,000 and your home is valued at $500,000, then:

  • Site Value = $600,000
  • Capital Improved Value = $1.1 million

 

Where Can You Find These Values?

You’ll find both values on your:

  • Annual council rates notice
  • Victorian Government’s land data websites (e.g. Landata, or via your local council)
  • Property information certificates when selling or transferring property

The valuation date is generally 1 January and is used for the financial year beginning 1 July.

 

Who Determines These Values?

Valuations in Victoria are conducted by the Valuer-General Victoria, or local council-appointed valuers under supervision. They conduct mass valuations every year based on:

  • Recent comparable sales
  • Zoning and planning conditions
  • Property inspections or desktop assessments
  • Market analysis by property type and location

 

Why Does the Difference Matter?

  • A higher CIV can increase your council rates
  • A higher SV can increase your land tax liability
  • Understanding both helps you forecast ownership costs, especially if you own multiple properties or vacant land

 

How to Dispute a Valuation in Victoria

If you believe either the Site Value or Capital Improved Value on your notice is too high:

  1. Contact your local council within two months of receiving your rates notice
  2. Request a valuation objection form
  3. Submit evidence (sales data, independent valuation, planning issues)
  4. If unresolved, escalate to the Victorian Civil and Administrative Tribunal (VCAT)

A successful objection can reduce your rates or land tax liability.

 

Tips for Property Owners

  • Review both CIV and SV on your annual notice
  • Monitor how renovations or zoning changes may affect CIV
  • Understand your land tax threshold (if applicable)
  • Seek professional valuation advice when developing or subdividing
  • Use CIV as a general guide for current market value—but consider full appraisals for sale or loan purposes

 

Conclusion

Site Value and Capital Improved Value are two sides of the same coin—each reflecting a different aspect of your property’s worth. In Victoria, they’re essential for calculating rates, taxes, and planning contributions, and understanding them helps you make informed decisions about property ownership and development.

By checking your valuations and knowing when to seek a review, you can manage costs more effectively and stay compliant with Victorian property regulations.

Insightful Guide to Professional Property Valuation in Australia

Getting a Professional Property Valuation

Understanding the process of a professional property valuation is crucial for anyone involved in real estate transactions in Australia. This guide covers the steps in the formal valuation process, the pros and cons of property valuations, various types of valuations, and associated costs.

The Formal Property Valuation Process

Step-by-Step Guide

  1. Engaging a Property Valuer: The first step involves choosing a qualified property valuer. Ensure they have the necessary credentials and experience.
  2. Property Inspection: The valuer will conduct a thorough inspection of the property, assessing its condition, size, layout, and unique features.
  3. Market Analysis: A comprehensive analysis of the local property market trends is conducted to aid in determining the property’s value.
  4. Report Compilation: The valuer compiles a detailed report, which includes the valuation, methodology used, and market analysis.
  5. Delivery of Valuation Report: The final step is the delivery of the valuation report to the client.

Pros and Cons of Property Valuations

Advantages

  • Informed Decision Making: Provides a solid basis for making financial decisions.
  • Objective Assessment: Offers an unbiased opinion of the property’s value.
  • Loan Security: Essential for securing a mortgage or refinancing.

Disadvantages

  • Cost: Professional valuations can be expensive.
  • Time-Consuming: The process can take several days to weeks.

Types of Property Valuations

  • Full Market Valuation: The most comprehensive, detailing the market value of the property.
  • Insurance Valuation: Focuses on the replacement cost in case of damage.
  • Bank Valuation: Used by banks for lending purposes, often more conservative.
  • Rental Valuation: Assesses the potential rental income of the property.

Understanding Valuation Costs

Factors Influencing Cost

  • Property Type and Size: Larger or more complex properties generally cost more to evaluate.
  • Location: Properties in remote areas may incur additional travel costs.
  • Purpose of Valuation: Different types of valuations can vary in cost.

Maximising Value with Expert Property Valuation

In conclusion, obtaining a professional property valuation Sydney is a vital step in navigating the complex landscape of real estate. Whether you’re buying, selling, or refinancing, understanding the value of your property through a formal assessment offers clarity and confidence in your decision-making. While the process involves costs and time, the benefits of accurate and unbiased valuation by a seasoned property valuer are indispensable. Embrace this essential tool to ensure your real estate decisions are well-informed and strategically sound.

Melbourne skyline illustrating family law property settlements and valuation expertise

Understanding Valuations for Family Law and Property Settlements

Navigating the complexities of property settlements in family law can be a challenging task. This article provides an overview of how family law impacts property valuations during the division of assets upon divorce or separation in de facto relationships, with a focus on Melbourne.

The Role of Property Valuation in Family Law Property Settlements

When couples in Melbourne face the dissolution of their marriage or de facto relationship, property valuation becomes a critical component in family law property settlements. Accurate property valuation ensures an equitable distribution of assets, which is fundamental in family law proceedings.

Why Accurate Valuation Matters

  1. Fairness and Equity: The primary aim in family law is to reach a fair and equitable distribution of assets. Accurate property valuations are key to achieving this goal.
  2. Legal Compliance: Courts in Melbourne require reliable valuations to make informed decisions regarding property settlements.

Choosing a Property Lawyer in Melbourne

The selection of a proficient property lawyer is crucial in navigating family law property settlements. A knowledgeable lawyer can guide through the legal intricacies and ensure that the property valuation is conducted appropriately.

Factors to Consider When Selecting a Lawyer

Experience in Family Law: Look for lawyers who specialise in family law and understand the nuances of property settlements.
Local Knowledge: A Melbourne-based lawyer will have better insights into the local property market and legal requirements.
Reputation and Reviews: Consider the lawyer’s reputation and client testimonials to gauge their reliability and effectiveness.

Steps in the Property Valuation Process

Understanding the property valuation process is essential for anyone going through a family law property settlement. Here are the key steps:

  1. Appointing a Valuer: It’s important to choose a certified valuer with experience in Melbourne’s property market.
  2. Property Inspection: The valuer will conduct a thorough inspection of the property to assess its condition and features.
  3. Market Analysis: The valuer will analyse recent sales data in Melbourne to determine the property’s market value.

Impact of Property Valuation on Settlement Outcomes

The outcome of a property settlement can be significantly influenced by the property valuation. An overvaluation or undervaluation can lead to unjust settlements, affecting the financial future of both parties involved.

Key Points to Remember

Objective Valuation: Ensure the valuation is impartial and based on current market conditions in Melbourne.
Legal Representation: Engage a property lawyer to review the valuation and advocate for a fair settlement.

Understanding the Legal Framework of Family Law in Melbourne

Family law in Melbourne governs the division of assets, including property, during divorce or separation. It’s crucial to understand this legal framework to navigate property settlements effectively.

Elements of the Legal Framework

Equity and Fairness: The law seeks to ensure a just division of assets.
Individual Circumstances: Each case is evaluated based on the unique circumstances of the individuals involved.

  • Comprehension of Family Law Principles
  • Knowledge of Property Valuation Techniques
  • Understanding Melbourne’s Property Market
Aerial view of agricultural lands near Melbourne, highlighting Australia's rural landscape.

Understanding Australia’s Rural Landscape

Australia’s vast expanse is dotted with rural and agricultural lands that serve as the backbone of its economy. From vast cattle ranches in Queensland to vineyards in Victoria, the diversity of the land has given rise to unique valuation challenges. When it comes to property valuation Melbourne and its surrounding rural areas, several distinct factors come into play.

Factors Influencing Rural and Agricultural Land Valuation

In Australia, especially around regions like Melbourne, the valuation of rural and agricultural lands is influenced by a myriad of factors:

  • Land Quality: The fertility and usability of the soil, presence of natural water sources, and overall topography can significantly impact land value.
  • Accessibility: Proximity to major roads, towns, and cities, like Melbourne, can enhance the value due to better market access and connectivity.
  • Existing Infrastructure: The presence of facilities like barns, irrigation systems, or farmhouses can add to the property’s worth.
  • Land Use Restrictions: Australian rural lands might have zoning regulations or conservation restrictions that can influence valuation.
  • Market Demand: The demand for specific agricultural products or the potential for property development can drive up land values.

Property Valuation Melbourne: A Special Mention

Melbourne, being one of Australia’s major cities, plays a pivotal role in influencing the valuation of surrounding rural and agricultural lands. The city’s economic pulse, infrastructural developments, and market trends can have ripple effects on property values in adjacent rural areas.

Challenges in Rural and Agricultural Land Valuation

The valuation of rural and agricultural lands in Australia is not without its challenges:

  • Changing Climate: Australia’s evolving climate patterns can impact agricultural viability, affecting land values in the process.
  • Diverse Land Uses: The multifunctional use of rural lands, from livestock grazing to tourism, can complicate valuation processes.
  • Market Volatility: Fluctuations in global commodity prices or local market demands can lead to variable land valuations.

Approaches to Rural and Agricultural Land Valuation

Given the complexities associated with rural land valuation in Australia, professionals often adopt a combination of methods:

1. Comparative Sales Approach: This involves comparing the land in question with recent sales of similar properties in the vicinity.
2. Income Capitalization Approach: For income-generating lands, this method considers the net income the property can produce, capitalized at a rate that reflects the investment risk.
3. Cost Approach: This method considers the land’s value and the cost of any improvements, minus depreciation.

Rural and agricultural land valuation in Australia, particularly in regions around Melbourne, is a multifaceted process. By understanding the unique considerations, landowners, investors, and professionals can navigate the valuation process with greater clarity and confidence.