PurposeThe purpose of this research is to investigate Australian property valuers' identification and consideration of physical risks to properties in valuation practice. The research further explores valuers' considerations of climate change-related risks.Design/methodology/approachThe research approach comprised an online survey of Australian valuers who were members of the Australian Property Institute. The online survey included structured and unstructured questions to explore types and extent of risk investigations in valuation practice.FindingsThe analysis reflects that while valuers easily identified and engaged with physical risks, there is a lack of understanding of, and engagement with, climate change risks. This supports the need for better information sources and guidance to inform valuers of climate change risks per se, as well as the development of specific mechanisms for consideration of such risks to be included in valuation processes, practices and reports.Research limitations/implicationsThe research is limited by the small sample size achieved due to the timing of the survey deployment, which occurred during the first wave of COVID-19 lockdowns in Australia. Thus, the findings are not necessarily representative of the Australian valuation profession, but they do provide indications of current approaches to risk identification in practice and the need for more guidance in relation to climate change risks.Practical implicationsThis research identifies that more support, guidance, information and tools, as well as awareness-raising, are required to enable valuers to accurately identify all risks affecting a property.Originality/valueThe research provides a snapshot of current understandings of physical risk identification in valuation practice. As investors and other organisations integrate and build up their analysis of climate risks to their portfolios and organisations, this research indicates that valuers also need to be aware of changing market assessment of physical and climate risks associated with property for consideration in valuation.

Purpose This study aims to provide a development of the courts’ views of climate change risk in planning matters as related to inundation and suggest that valuers and others involved need to be aware of the implications these views have on property matters and valuation processes and reporting. Design/methodology/approach This study engages in a legal doctrinal analysis of primary law sources, being Australian case law. It analyses decisions from Queensland, New South Wales and Victorian courts and tribunals, to establish their views of climate change risk for coastal area developments, who bears the risk and responsibility and if risk is shared. Findings The analysis reflects that developers bear the onus of proving their proposal meets relevant planning requirements including management and mitigation of climate change risks. However, the risk of developing in “at risk” areas is a shared burden, as local government authorities remain responsible for appropriately assessing applications against those requirements. Research limitations/implications This study had several limitations, these included: only matters with a final determination were able to be reviewed and analysed; there is no one Australia-wide planning regime; state laws and policies are different and changing; and disputes are heard in different courts or tribunals, which can impact the weight and importance given to issues and the consistency of approaches. Practical implications This research informs valuers of climate change risk issues related to the inundation of new, and re-, developments, and the importance of court decisions as an additional information consideration to inform their valuations. Originality/value This paper is significant as it provides an understanding of the Australian courts’ current views on climate change risk, and by extension, the implications and considerations for valuations.

Purpose – The purpose of this paper is to reduce the potential for litigation by improving valuers’ awareness of water risks. As part of a valuer’s due diligence, the paper provides guidance as to how to identify such risks by explaining the different types and examining how online search tools can be used in conjunction with more traditional methods to evaluate the probability of these risks occurring. Design/methodology/approach – The paper builds on prior research, which examined the impact of water to and for valuations. By means of legal/doctrinal analysis, this paper considers relevant issues from the perspective of managing client expectations and needs. In so doing it identifies online tools available to assist in identifying at risk properties and better informing clients. Findings – While the internet provides a variety of tools to gain access to relevant information, this information most commonly is only provided subject to disclaimer. Valuers need to ensure that blind reliance is not given to use of these tools but that the tools are used in conjunction with individual property inspections. Research limitations/implications – Although the examples considered primarily are Australian, increasing water risks generally make the issues considered relevant for any jurisdiction. The research will be of particular interests to practitioners in coastal or riverine areas. Practical implications – Valuation reports are sought for a variety of purposes from a variety of clients. These range from the experienced, knowledgeable developer looking to maximise available equity to the inexperienced, uneducated individual looking to acquire their home and thinking more often than not with their heart not their head. More informed practices by valuers will lead to valuation reports being more easily understood by clients, thus lessening the likelihood of litigation against the valuer for negligence. Originality/value – The paper highlights the issue of water risks; the need for valuers to properly address potential and actual risks in their reports; and the corresponding need to undertake all appropriate searches and enquiries of the property to be valued. It reinforces the importance of access to the internet as a tool in the valuation process.

PurposeThe paper aims to improve consumer awareness of the complexities of community living. It does this by clarifying how living in a managed community is different from a “traditional” neighbourhood; and identifying matters that can become disputes.Design/methodology/approachThe paper builds on research by other authors into strata scheme disputes by examining recent Queensland cases.FindingsMany disputes appear to result from a lack of understanding of the complexities of community living. Matters that should be able to be easily resolved are therefore escalated to formal disputes.Research limitations/implicationsThe paper considers law and cases from Queensland. The types of matters considered, however, are relevant for any managed community and therefore the research is relevant for all jurisdictions. The research will be of particular interest to jurisdictions looking to boost living density by increasing the development of managed communities.Practical implicationsThe research will assist in consumer transactions by providing guidance as to the matters to be considering prior to moving into a managed community. More informed decision making by prospective residents will lead to a decreased likelihood of disputes arising.Originality/valueThe paper is an up‐to‐date consideration of the issues arising from community living. It highlights the benefits arising from increased consumer awareness of the complexities of community living and the potential for consumer education to reduce the number of disputes.

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