Assignment | Literature Review

Running Head: LITERATURE REVIEW
PROPERTY VALUATION OF HERITAGE PROPERTIES
Name of the Student
Name of the University
Author’s Note

1LITERATURE REVIEW
EXECUTIVE SUMMARY:
The thesis has been presented within the framework of the surveys and assessment data
of all the heritage properties, including the specialized and some of the heritage indigenous
properties and buildings. The aim of the study is to extract the valuation process and implement
these procedures to assess the market worth of the heritage buildings in Australia. The purpose of
this study shall serve the purpose if detailed learning and understanding of the legal principles
related to the heritage buildings and its application in due course of time depending upon the
facts and circumstances of each case. The study gives a detailed information about the heritage
sites and its valuation principles. The study also gives an insight on the comparison between
different valuation reviews and their findings. Thus, the purpose of the study is to review the
structure and methodology of valuation of heritage properties and provide detailed thesis on the
same.

2LITERATURE REVIEW
Table of Contents
EXECUTIVE SUMMARY:............................................................................................................1
INTRODUCTION:..........................................................................................................................4
HERITAGE SITES OF AUSTRALIA:...........................................................................................5
HERITAGE LISTING AND ITS ADVANTAGES:.......................................................................7
 Preserving and Conserving...................................................................................................8
 Tourist attraction...................................................................................................................8
 Heritage Research.................................................................................................................8
 Community Gratification and Dignity of Location..............................................................9
PROPERTY VALUATION:...........................................................................................................9
LIMITATION ON DEVELOPMENT:.........................................................................................10
VALUERS RESPONSIBILITY:...................................................................................................10
METHODS OF VALUATION:....................................................................................................11
 Comparison.........................................................................................................................11
 Profits:.................................................................................................................................11
 Residual..............................................................................................................................11
 Contractors..........................................................................................................................12
 Investment...........................................................................................................................12
VALUATION RESEARCH:.........................................................................................................12
THE OUTCOMES OF FINDINGS:..............................................................................................14

3LITERATURE REVIEW
CONSIDERATIONS WHILE EVALUATING HERITAGE PROPERTY:................................15
LIMITATIONS TO RESEARCH:................................................................................................15
CONCLUSION:............................................................................................................................16
REFERENCES:.............................................................................................................................17