valuations

there is a lot of hype about asset writedowns out there at the moment

the share price seems to indicate that a 20-30% asset writedown is on the cards

Here is a thread designed to track what is actually happening with property values

Please add both good and bad results.

First up Macquarie Office Trust - the valuation shows a fall of 2.9 on the US office portfolio
the Australian office has fallen 1.2% since May

Usually a property is valued once every three years. We are not sure if all the properties were valued or just one out of three properties.

It is in the interests of the media to make the information as sensational as possible so don't expect all the info to come out.



Macquarie Office Trust revalues assets
August 8, 2008 - 9:56AM

Macquarie Office Trust says the book value of its property portfolio has fallen by 2.5 per cent in the past three months.

"Valuations across the whole portfolio decreased $149.6 million against May 2008 book values," the trust said.

The valuations reflected a softening of capitalisation rates by 32 basis points and 10 year discount rates by 26 basis points.

Macquarie Office said its total Australian portfolio value decreased by $29.4 million or 1.2 per cent, from May.

"While capitalisation and discount rates have softened by 41 basis points and 34 basis points, respectively, across the Australian assets externally revalued, this has been offset by market rents having increased by an average of 17 per cent," the trust's chief executive Adrian Taylor said.

The value of its US portfolio value fell by 2.9 per ent and its Japanese portfolio was down by five per cent.

© 2008 AAP