THE Victorian Division of the Australian Property Institute has accredited Australia’s first Specialist Water Valuers.
API (Vic) rural spokesperson Mitchell Rowe said the API, building on the traditional strengths of independent valuers in regards to analysis and interpretation of markets for various classes of assets, recognised the need for specific training and accreditation in regards to what is a relatively new class of asset.
“With the advent of the ‘unbundling’ of water in Victoria (or the breaking of the traditional nexus between water and land), water can now be traded completely independently of land,” he added.
Course presenter David McKenzie said there have been rapid changes in regard to the rules and regulations for water trading, and both markets and regulatory frameworks are very dynamic.
McKenzie said in the interests of facilitating an open and transparent marketplace for water, there is a strong need for a well informed and independent body of experts who can assist market participants such as banks, government departments, environmental groups, and buyers and sellers of water assets across the State, and interstate.
“The Accreditation has already generated significant interest in the Water Industry, and this reflects both the relevance of the subject matter, and the wider recognition of the need for independent experts in the water marketplace.
“The need for this specialist knowledge of irrigation water is no more evident than the recent buy back tenders offered by the Federal Government throughout the northern irrigation districts of Victoria and across the Murray Darling Basin,” he continued.
“How does an irrigator know if they are achieving a fair market value for their water asset? A fully accredited independent Specialist Water Valuer from the ranks of the Australian Property Institute can now provide that specialist advice,” he concluded.
Australian Property Journal
