NZIV Member Alert #4 -
Coronavirus (COVID-19)
27 March 2020
As mentioned in our Member Update #3 - The New Zealand Institute of Valuers (NZIV) Council has been seeking clarity on behalf of Members as to whether or not valuation is an essential service.
We have taken a deliberately cautious and responsible approach because of the seriousness of the situation.
A short time ago we received advice from the Ministry of Business Innovation & Employment (MBIE). This is what they have communicated to us:
"Based on the information provided, your business is considered non-essential. This is based on the decision that conveyancing is not essential and so very few people will be in a position to list new properties for sale during Alert Level 4.
Similarly, we expect banks to use alternative methods to ascertain property and asset values as needed.
If you are a business or worker in a non-essential business, you may still work – as long as this is from home. If you cannot work remotely, you must stay home."
We understand that members may be receiving contradictory information, however, at 2.21pm today the Ministry for Business, Innovation and Employment confirmed to NZIV that the above decision “should be considered final”.
As previously suggested this is not 'business as normal' activities. The Government is now enforcing a lock down for public safety in an attempt to get New Zealand through the current crisis quickly, so we can all focus on the rebound.
Stay home, follow Government guidelines and plan for the rebound when it comes.
In conjunction with the Standards Board, NZIV Council has recently provided guidance on Property Inspections during this time and Valuation Uncertainty.
We also reiterate the position we have consistently advocated:
- Follow Government Guidelines - including lock-down restrictions, and
- Maintain the Health & Safety Policies you will be operating under
Regards
Jeff Alexander
President
New Zealand Institute of Valuers
