Valuers? Liability : the impact of torts reform in Queensland

Blake, Andrea & Eves, Chris (2011) Valuers? Liability : the impact of torts reform in Queensland. In The 17th Annual Pacific Rim Real Estate Society Conference, 16-19 January 2011, Gold Coast, Queensland, Australia.

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Historically there has been a correlation between the economic cycles and litigation in the area of professional negligence relating to valuers. Negligence actions have principally been instigated by financiers for valuations prepared during more buoyant economic times but where there has been a subsequent loss due to a reduction in property value. More specifically during periods of economic downturn such as 1982 to 1983 and 1990 to 1998 there has been an increased focus by academic writers on professional negligence as it relates to property valuers. Based on historical trends it is anticipated that the end of an extended period of economic prosperity such as has been experienced in Australia, will once again be marked by an increase in litigation against valuers for professional negligence. However, the context of valuers liability has become increasingly complex as a result of statutory reforms introduced in response to the Review of the Law of Negligence Final Report 2002 (“the IPP Report”), in particular the introduction of Civil Liability Acts introducing proportionate liability provisions. This paper looks at valuers’ liability for professional negligence in the context of statutory reforms in Queensland and recent case law to determine the most significant impacts of recent statutory reform on property valuers.

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ID Code: 46156
Item Type: Conference Paper
Refereed: Yes
Keywords: Valuers' Liability, Professional Negligence, Proportionate Liability, Economic Downturn
Subjects: Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > URBAN AND REGIONAL PLANNING (120500) > Housing Markets Development Management (120503)
Divisions: Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Past > Schools > School of Urban Development
Copyright Owner: Copyright 2011 (please consult the authors).
Deposited On: 27 Sep 2011 03:03
Last Modified: 27 Sep 2011 03:15

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