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Regional indexation
This page lists your components by region. When you select a region's component, the system shows the region name and the overall calculated factor for this region, and a table containing one row per LGA. Only LGAs with parcels in the selected component are displayed.
The table has the following columns:
| Heading | Description |
|---|---|
| District | The name of the LGA with parcels in the selected component. |
| Area | The total area of the LGA's parcels in the selected component. |
| YYYY value | The total current value of the LGA's parcels in the selected component. |
| YYYY $/m² | The combined current rate per m² of the LGA's parcels in the selected component. |
| Factor | If the text is grey, this number is a copy of the regional index factor. If it's bold, it's a custom factor entered by a valuer. |
| Fact'd $/m² | The combined future rate per m² of the LGA's parcels in the selected component, given the application of the factor. |
| Factored value | The total future value of the LGA's parcels in the selected component, given the application of the factor. |
| Props | The number of properties in the selected component in the LGA row. Click this number to open a CLE property search result page containing these properties. |
| Parcels | The number of parcels in the selected component in the LGA row. Click this number to open a CLE parcel search result page containing these parcels. |
| Action | Click the Edit  button to enter a custom factor for the LGA/component. You should also enter a rationale for choosing the custom factor. Click the Send  button to apply the factor to all properties/parcels in the LGA/component. |
In the case of financial components, the YYYY value and the Factored value are removed. In addition, the YYYY $/m² column is renamed to YYYY cap rate, and the Fact'd $/m² column is renamed to Fact'd cap rate.
There are two buttons that may appear at the top of the page's body: Enter a factor and Apply to all.
Enter a factor
MVOW uses benchmark values from all of a region's components from in-tranche LGAs to determine the regional indexation factor. However, there are some restrictions. To be used in the calculation, a benchmark must have:
- been a benchmark in the same component in the previous year;
- been a benchmark at the same percentile as the previous year; and,
- have the same area as it had in the previous year to within 5%. It may also be that there are simply no properties in any of the in-tranche LGAs in the nominated component.
If there are no properties that can be included in the calculation, the regional indexation factor cannot be determined.
If this is the case, the Enter factor button will appear. Clicking it will result in the following popup:
You can enter a factor that is to be assigned to all LGAs in the list, and the system will store the factors as if you had entered override factors for each LGA. You will still have to apply the factors to the LGAs.
Apply to all
This button will be enabled if there are any LGAs in the table, and all LGAs have either the default factor or an override factor assigned. Click the button to show a popup that will let you apply the factor to all non-tranche LGAs in the region.
If you click Do it, the system will apply the factor to each LGA in sequence, indicating success with a green tick when complete.
When the factor has been applied to all LGAs, the system will pause for a moment and then close the popup.