7th February 2023
Dear Members,
In conjunction with the Australian Property Institute, the Property and Valuation Standards Board has undertaken a review of NZVGP506 Valuation of Contaminated Land and issued a new guidance paper. The joint API/PINZ guidance paper ANZVGP 115 Contamination Issues – Real Property is recommended best practice.
ANZVGP 115 Contamination Issues - Real Property - Effective date 1 July 2023.
Scope of this GP
The purpose of this Guidance Paper (GP) is to outline information, issues and approaches relating to contamination issues impacting and affecting real property assets. This GP provides information and guidance for Institute Members providing professional services in relation to real property which is contaminated or for which the contamination status is unknown or uncertain.
It also addresses items that Institute Valuer Members (Valuers) should consider when undertaking valuations of real property.
ANZVGP 115 Contamination Issues - Real Property is now available to view on the website here.
Effective Date
This GP is applicable from 1 July 2023. Earlier adoption is permitted and encouraged. This GP replaces NZVGP506 Valuation of Contaminated Land which was in effect from 1 July 2021 and will be withdrawn 30 June 2023.
Education
Register for the Webinar: ANZVGP 115 Contamination Issues – Real Property being held on 21st February and hear from Jay Sorensen Property & Valuation Standards Board member as he talks us through the new guidence paper.
If you wish to contact the Property and Valuation Standards Board or Standards Administrator, please email standards@property.org.nz.
Kind regards,
Blue Hancock
Chairman
Property and Valuation Standards Board |
