Valuations of Rural Leasehold and Licensed land in Victoria在维多利亚农村租赁和特许土地估价.pptVIP

Valuations of Rural Leasehold and Licensed land in Victoria Australia Simon A. de Garis Senior Lecturer School of Property Construction and Project Management, RMIT University Melbourne, Victoria, Australia Valuations of Rural Leasehold and Licensed land in Victoria Australia Simon A. de Garis Senior Lecturer School of Property Construction and Project Management, RMIT University Melbourne, Victoria, Australia * Where are we? Victoria Melbourne RMIT Hume Dam Study Area 4 Hour Drive NE of City Valuation of less than freehold Little Research Paper seeks a dialogue with some practical outcomes Paper Key areas Market rental valuations of rural land Valuation of land held under lease Native Title issues Area of leased and licensed land in Victoria is small. 43,689 government tenants occupy 1,064,000 ha Private leases numbers are unknown Number to increase due to demographics and economics Rural Settlement Post 1825 Landed squatters held large tracts Power of squatters gained by wool boom Victorian legislation of 1869 freed up land Settlers gain leasehold freehold Native Title Crown Land Extinguished by Freehold Grant Basis - Traditional Laws Customs Native Title Act 1993 Mabo v State of Queensland North East Victoria Lake Hume Study Area Upstream of Albury/Wodonga Rainfall 715mm Average Maximum Temperatures Summer 31.8oC Winter 12.6oC Valleys - Murray, Kiewa Mitta Diverse Soils - Vertosols Shallow Literature Review Eves Study 2002 NSW 1990-2000 Income Capital Land Value - Annual Average Weighted Return Rural Other Investments Rural - 10.75% Shares - 12.72% Bonds - 11.3% Property - 5.2% Bullivant v Minister 1936 Flooding - Compensation - Hume Dam BFSL 100% Loss Peak Flood Area 33% Loss Higher Level 10 % Loss (blot on title) Case Study Area NE Water Resources - GM Water Operates over 68,000 Ha - Controls 835 licences Hume Dam Capacity 3,035,500 Mgl Surface Area 20,000 Ha Licensed Land around Edge of Lake Hume 84 Licences Area 2-300 Ha 2 Ar