International measurement standards for residential property
The Residential Development Council has lodged a submission on the International Property Measurement Standards: Residential Consultation document.
The Property Council is a foundation member of the International Property Measurement Standards Coalition and strongly supports the Coalition’s aim of establishing an international standard for property measurement.
There is general
agreement within the residential development industry that a move to a single
standard is a worthwhile objective, however it requires consensus from all
levels of government (Federal, State and Local) as well as changes to the way
developers, surveyors and valuers go about their business. It should be noted
that achieving national consensus will be the determining factor in the success
of the application of IPMSR in Australia.
The submission provides comment on a range of elements of the IPMSR as currently drafted, as well as issues that are unique to the Australian residential development market that have not been captured in the document.