Economy

Boom & Bust Property Case Study Raises Questions About Valuation Practice

January 24, 2011 by Editor · 1 Comment 

Back in 2006 Australia and many countries worldwide were experiencing an economic boom.  Consumer confidence was high and property prices were only heading one way, and that was up.

Upon reflection there is clear evidence of buyer and seller irrational exuberance.  Sellers and buyers are often emotional and everyone accepts that.  No argument there.

However what the boom and bust cycle has highlighted, are the flaws in the property valuation process.  (more…)