The Valuer General at Landgate is responsible for undertaking the triennial metropolitan Gross Rental Value (GRV) program in accordance with the Valuation of Land Act 1978.
GRVs are determined from a range of factors including property location, building age and the number of bedrooms and bathrooms.
The sustained property market downturn over the past few years has resulted in an average 13 percent reduction in GRVs compared to the existing values which were determined in 2015.
This is the first time in 20 years that the average Gross Rental Values (GRV) for metropolitan properties have been reduced.
The new GRVs will take effect on 1 July 2020.
The annual state-wide Unimproved Values assessment program, which only considers land value, is currently underway.
For more information about GRVs, visit www.landgate.wa.gov.au or call Landgate’s customer service on (08) 9273 7373.
