Tips & Traps of Valuing Residential and Commercial Property (Allen J Crawford FAPI FRICS)

Sir Samuel Griffiths was twice Premier of Queensland, the first time from 10th November 1883 to 13th June 1888, and the second time 2 months later. He made a significant contribution to Federation and in particular the status of the Senate as a House of Review. He became Chief Justice of the High Court (after federation) and established a precedent that applies to today and his principle must be the most quoted principle in legal decisions on valuation matters in Australia The test of value of land is to be determined, not by inquiring what price a man desiring to sell could actually have obtained for it on a given day, i.e. whether there was in fact on that day a willing buyer, but by inquiring “What would a man desiring to buy the land have had to pay for it on that day to a vendor willing to sell it for a fair price but not desirous to sell?”