Valuation Firm Guide

New Property Types

As of roughly September 2011, we will be supporting the following Property Types under //vx:Job/vx:Property/@Type.

List of property types grouped by security category

In addition to the 3 security categories (Rural, Commercial, Residential) dictating the available property types, the National Australia Bank also have their own custom property types. In total there are 6 groups of property types:

Category NAB Mapping Standard Mapping
Residential: NAB RESIDENTIAL SECURITY PROPERTY TYPES STANDARD SHORT FORM PROPERTY TYPES
See also //RealEstate/Residential/@Type
Commercial: NAB COMMERCIAL SECURITY PROPERTY TYPES STANDARD COMMERCIAL PROPERTY TYPES
Rural: NAB RURAL SECURITY PROPERTY TYPES STANDARD RURAL PROPERTY TYPES

 

In the future, we are considering a JSON Web Service that will allow easier integration. Just pass in a job ID from your UI, and use the property types in a drop-down box.

Please note that the property types below must be provided with the exact same formatting and are case sensitive!

NAB RESIDENTIAL SECURITY PROPERTY TYPES:
Apartment
Apartment/unit of <= 50 sqm
Apartment/unit of > 50 sqm
Detached House
Detached house on <= 2024 m2
Detached house on > 2024 m2
Group of Flats
Guaranteed rental inc.
Holiday accommodation
Housing Co Op- without LMI
Housing Co Op- with LMI
Inner city apartments
Leaseback
Leasehold
Multi detached houses
Multi unit
Other
Purchase off the plan
Retirement
Serviced apartment
Semi Detached House
Short term rental
Specialised
Strata Title Unit
Stratum Title Unit
Student accommodation
Townhouse
Warehouse

NAB COMMERCIAL SECURITY PROPERTY TYPES:
Detached House
Detached House Lease > 50 yrs
Detached House Lease 25-50 yrs
Detached House Lease < 25 yrs
Detached House Perpetual
Factory
Factory Lease 25-50 yrs
Factory Lease < 25 yrs
Factory Lease > 50 yrs
Factory Perpetual
Group of Flats
Group of Flats Lease 25-50 yrs
Group of Flats Lease < 25 yrs
Group of Flats Lease > 50 yrs
Group of Flats Perpetual
Hotel with Liquor Licence
Hotel with Liquor Licence ACT
Hotel without Liquor Licence Act
Office
Office Lease 25-50 yrs
Office Lease < 25 yrs
Office Lease > 50 yrs
Office Perpetual
Other
Other Lease 25-50 yrs
Other Lease < 25 yrs
Other Lease > 50 yrs
Other Perpetual
Retail
Retail Lease 25-50 yrs
Retail Lease < 25 yrs
Retail Lease > 50 yrs
Retail Perpetual
Semi Detached House
Semi Det House Lease 25-50 yrs
Semi Det House Lease < 25 yrs
Semi Det House Lease > 50 yrs
Semi Det House Perpetual
Showroom
Showroom Lease 25-50 yrs
Showroom Lease < 25 yrs
Showroom Lease > 50 yrs
Showroom Perpetual
Specialised-Other
Specialised Oth Lease 25-50 yr
Specialised Oth Lease < 25 yrs
Specialised Oth Lease > 50 yrs
Specialised Other Perpetual
Strata Title Unit
Stratum Title Unit
Strata T. Unit Lease 25-50 yrs
Strata T. Unit Lease < 25 yrs
Strata T. Unit Lease > 50 yrs
Strata Title Unit Perpetual
Stratum
Townhouse
Townhouse Lease 25-50 yrs
Townhouse Lease < 25 yrs
Townhouse Lease > 50 yrs
Townhouse Perpetual
Warehouse Lease 25-50 yrs
Warehouse Lease < 25 yrs
Warehouse Lease > 50 yrs
Warehouse Perpetual
Warehouse

NAB RURAL SECURITY PROPERTY TYPES:
Alpine
Broad Acre
Broad Acre Lease 25-50 yrs
Broad Acre Lease < 25 yrs
Broad Acre Lease > 50 yrs
Broad Acre Perpetual
Broad Acre Term
Detached House
Detached House Lease 25-50 yrs
Detached House Lease < 25 yrs
Detached House Lease > 50 yrs
Detached House Perpetual
Factory
Factory Lease 25-50 yrs
Factory Lease < 25 yrs
Factory Lease > 50 yrs
Factory Perpetual
Group of Flats
Hotel with Liquor Licence
Office
Office Lease 25-50 yrs
Office Lease < 25 yrs
Office Lease > 50 yrs
Office Perpetual
Other
Other Lease 25-50 yrs
Other Lease < 25 yrs
Other Lease > 50 yrs
Other Perpetual
Retail
Rural Lifestyle
Rural Lifestyle Lease 25-50 yr
Rural Lifestyle Lease < 25 yrs
Rural Lifestyle Lease > 50 yrs
Rural Lifestyle Perpetual
Semi Detached House
Semi Det House Lease 25-50 yrs
Semi Det House Lease < 25 yrs
Semi Det House Lease > 50 yrs
Semi Det House Perpetual
Showroom
Specialised - Sugar
Specialised No 1
Specialised No 1- 25 to 50 yrs
Specialised No 1 - < 25 yrs
Specialised No 1 - > 50 yrs
Specialised No 1 - Perpetual
Specialised No 1 Term
Specialised No 2
Specialised No 2- 25 to 50 yrs
Specialised No 2 - < 25 yrs
Specialised No 2 - > 50 yrs
Specialised No 2 - Perpetual
Specialised No 2 Term
Strata Title Unit
Stratum Title Unit
Sugar - 25 to 50 yrs
Sugar - < 25 yrs
Sugar - > 50 yrs
Sugar Perpetual
Townhouse
Warehouse

STANDARD SHORT FORM PROPERTY TYPES:
Dwelling
Unit
Townhouse
Apartment
Maisonette
Vacant Land
Rural/Residential
Shack
TBE Dwelling
Rental Flats
Duplex
Villa
Land with Minor Improvements
TBE Unit
Student Accommodation
Seniors Living
Serviced apartment
Multiple Dwellings on One Title
TBE Multiple Dwellings on One Title

STANDARD COMMERCIAL PROPERTY TYPES:
Factory
Group of Flats
Office
Retail
Showroom
Warehouse
Hotel

STANDARD RURAL PROPERTY TYPES:
Broad Acre
Factory
Rural Lifestyle
Sugar
Alpine

ANZ SPECIFIC PROPERTY TYPES:
Retail
Industrial
Office/Commercial
Rural
Residential Development/Predevelopment Site
Englobo Development Site/subdivisions
Accomodation (non-standard) - Hotels/Motels
Service Stations (non-standard)
Child Care (non-standard)
Aged Care (non-standard)
Pub/Tavern or Gaming (non-standard)
Retirement Village (non-standard)
Health Care (non-standard)
Other

Standard LIXI Residential Property Types

See also: Existing Standard LIXI Residential Property Type Mappings for //RealEstate/Residential/@Type

All Property Types

Please note, the listed property types are every property type in our database, not all of these will be accepted for every job.

Property Type ValEx Property Type ID
Dwelling 1
Unit 2
Townhouse 3
Apartment 4
Maisonette 5
Vacant Land 6
Rural/Residential 7
Shack 8
TBE Dwelling 9
Rental Flats 10
Duplex 11
Villa 12
Land with Minor Improvements 13
Terrace 14
Commercial 15
TBE Unit 16
Student Accommodation 17
Seniors Living 18
Serviced apartment 19
Alpine 20
Apartment/unit of <= 50 sqm 21
Apartment/unit of > 50 sqm 22
Broad Acre 23
Broad Acre Lease < 25 yrs 24
Broad Acre Lease > 50 yrs 25
Broad Acre Lease 25-50 yrs 26
Broad Acre Perpetual 27
Broad Acre Term 28
Detached House 29
Detached House Lease < 25 yrs 30
Detached House Lease > 50 yrs 31
Detached House Lease 25-50 yrs 32
Detached house on <= 2024 m2 33
Detached house on > 2024 m2 34
Detached House Perpetual 35
Factory 36
Factory Lease < 25 yrs 37
Factory Lease > 50 yrs 38
Factory Lease 25-50 yrs 39
Factory Perpetual 40
Group of Flats 41
Group of Flats Lease < 25 yrs 42
Group of Flats Lease > 50 yrs 43
Group of Flats Lease 25-50 yrs 44
Group of Flats Perpetual 45
Hotel with Liquor Licence 46
Hotel with Liquor Licence ACT 47
Housing Co Op- with LMI 48
Housing Co Op- without LMI 49
Inner city apartments 50
Office 51
Office Lease < 25 yrs 52
Office Lease > 50 yrs 53
Office Lease 25-50 yrs 54
Office Perpetual 55
Other 56
Other Lease < 25 yrs 57
Other Lease > 50 yrs 58
Other Lease 25-50 yrs 59
Other Perpetual 60
Guaranteed rental inc. 61
Holiday accommodation 62
Leaseback 63
Leasehold 64
Multi detached houses 65
Multi unit 66
Retirement 67
Hotel without Liquor Licence Act 68
Short term rental 69
Student accommodation 70
Purchase off the plan 71
Retail 72
Retail Lease < 25 yrs 73
Retail Lease > 50 yrs 74
Retail Lease 25-50 yrs 75
Retail Perpetual 76
Rural Lifestyle 77
Rural Lifestyle Lease < 25 yrs 78
Rural Lifestyle Lease > 50 yrs 79
Rural Lifestyle Lease 25-50 yr 80
Rural Lifestyle Perpetual 81
Semi Det House Lease < 25 yrs 82
Semi Det House Lease > 50 yrs 83
Semi Det House Lease 25-50 yrs 84
Semi Det House Perpetual 85
Semi Detached House 86
Showroom 87
Showroom Lease < 25 yrs 88
Showroom Lease > 50 yrs 89
Showroom Lease 25-50 yrs 90
Showroom Perpetual 91
Specialised 92
Specialised - Sugar 93
Specialised No 1 94
Specialised No 1 - < 25 yrs 95
Specialised No 1 - > 50 yrs 96
Specialised No 1 - Perpetual 97
Specialised No 1 Term 98
Specialised No 1- 25 to 50 yrs 99
Specialised No 2 100
Specialised No 2 - < 25 yrs 101
Specialised No 2 - > 50 yrs 102
Specialised No 2 - Perpetual 103
Specialised No 2 Term 104
Specialised No 2- 25 to 50 yrs 105
Specialised Oth Lease < 25 yrs 106
Specialised Oth Lease > 50 yrs 107
Specialised Oth Lease 25-50 yr 108
Specialised Other Perpetual 109
Specialised Sugar 110
Specialised-Other 111
Strata T. Unit Lease < 25 yrs 112
Strata T. Unit Lease > 50 yrs 113
Strata T. Unit Lease 25-50 yrs 114
Strata Title Unit 115
Strata Title Unit Perpetual 116
Stratum 117
Stratum Title Unit 118
Sugar - < 25 yrs 119
Sugar - > 50 yrs 120
Sugar - 25 to 50 yrs 121
Sugar Perpetual 122
Townhouse Lease < 25 yrs 123
Townhouse Lease > 50 yrs 124
Townhouse Lease 25-50 yrs 125
Townhouse Perpetual 126
Warehouse 127
Warehouse Lease < 25 yrs 128
Warehouse Lease > 50 yrs 129
Warehouse Lease 25-50 yrs 130
Warehouse Perpetual 131
Hotel 132
Sugar 133
ChildCare Centre 134
Mechanical Workshop 135
Factory/Warehouse 136
Dwelling Conversion 137
Multiple Dwellings on One Title 138
TBE Multiple Dwellings on One Title 139
Lifestyle 140
Industrial 141
Mixed Use 142
Warehouse Conversion 143
Specialised Accomodation 144
Approved Residential Development 145
Unapproved Residential Development 146
Accommodation Hotels 147
Aged Care/Retirement 148
Boarding Houses > 12br 149
Boarding Houses up to 12br 150
Car Parks 151
Caravan Parks 152
Viticulture 153
Churches 154
Cinemas 155
Clubs 156
Commercial Office Investment 157
Extractive Industries (Quarries) 158
Function/Reception Centres 159
Function/Reception Centres 160
Funeral Parlours 161
Golf Courses 162
Guest Houses/Backpackers 163
Hospitals 164
Hotels (Inns/Taverns) 165
Industrial Development Sites 166
Industrial Investment 167
Industrial Land Subdivisions 168
Large Retail Centres 169
Management Letting Rights 170
Manufactured Home Parks 171
Marina Developments 172
Medical Centres 173
Motels 174
Pubs 175
Residential Development Sites 176
Residential Land Subdivisions 177
Retail & Office Development Sites 178
Retail Investment 179
Schools 180
Self-Storage 181
Service Stations - Going Concern 182
Service Stations/Carwashes 183
Student Accommodation Developments 184
Cropping 185
Horticulture 186
Pastoral 187
Hotels with Poker Machines 188
Boarding House 189
Aged Care/Retirement 190
Manufactured Home Estates 191
Medical Centres 192
Day Surgeries 193
Residential Development 194
Englobo/Pre-Development Site 195
Accomodation 196
Service Stations 197
Aged Care 198
Pub/Tavern or Gaming 199
Health Care 200
Specialised - Commercial 201
Specialised - Licenced 202
Warehouse (comm use) 203
Dairy 204
Grazing/Cropping 205
Specialised Agri 207
Vineyards 208
Development 209
Shopping Centres 210
Rural 211
Dwelling (comm use) 211
Child Care Centre - Freehold Going Concern 300
Child Care Centre - Leasehold Going Concern 301
Child Care Centre - Lessor's Interest 302
Hotel - Pub Freehold Going Concern 303
Hotel - Pub Leasehold Going Concern 304
Hotel - Pub Lessor's Interest 305
Hotel - Accommodation Freehold Going Concern 306
Hotel - Accommodation Leasehold Going Concern 307
Hotel - Accommodation Lessor's Interest 308
Service Station - Freehold Going Concern 309
Service Station - Leasehold Going Concern 310
Service Station - Lessor's Interest 311
Motel - Freehold Going Concern 312
Motel - Leasehold Going Concern 313
Motel - Lessor's Interest 314
Caravan Park - Freehold Going Concern 315
Caravan Park - Leasehold Going Concern 316
Caravan Park - Lessor's Interest 317
Self Storage - Freehold Going Concern 318
Self Storage - Leasehold Going Concern 319
Self Storage - Lessor's Interest 320
Manufactured Home Park 321
Management Letting Rights 322
Residential Apartments / Units (Multiple/Strata Titles) 323
Residential (4 or more flats on One Title) 324
Caryard 325
Rent Roll 326
Extractive Industries/Quarries 327
Development - Built Form (Residential) 328
Development - Built Form (Non Residential) 329
Development - Land Subdivision (Residential) 330
Development - Land Subdivision (Non Residential) 331
Irrigation 332
Feedlot 333
Piggery 334
Poultry 335
Orchards 336
Sugar Cane 337
Intensive Horticulture 338

Multiple Improvements (or Dwellings)

If the property has 2 dwellings, then the Valuer should report the main dwelling on the front page of the report and also under the main building section and the second dwelling in the ancillary improvements (including description of areas etc). The additional comments should explain clearly that there are two dwellings and the basis of valuation (i.e., in one line etc).

We will not propose to make any changes to the output report in ValEx until the new version of Property Pro is released and then align our output report with the API Property Pro report.

Regards,

National Compliance Manager

New Zealand

We currently have the following sites set up for NZ:

New Zealand Addresses

LIXI is an Australian standard; with concepts of 'state' and 'suburb' built in at a fundamental level.

In Australia, the geographical/political divisions are:

  • Country
  • State
  • Local Government Area
  • Suburb

with each entity contained within the borders of its next level up. Only Suburb, Postcode, State & Country are commonly used in addresses.

New Zealand is a more complicated entity, consisting of:

  • Country
  • Region/Regional Council
  • Territorial Authority
  • Suburb

with some combined concepts of "Unitary Authority" (both a region and a territorial authority).

Typically only Suburb, Postcode, Territorial Authority/Unitary Authority & Country are used in addresses.

To support this, ValEx renders the below structure:

<Location PropertyIdentification="NZ-1554515">
  <Address>
    <StreetNo>1</StreetNo>
    <Street Type="Place">Test</Street>
    <!-- Suburb -->
    <City>Unsworth Heights</City>
    <!-- Territorial Authority -->
    <State Name="Other" OtherDescription="North Shore City" />
    <!-- Auckland Region is implied -->
    <Postcode>632</Postcode>
    <Country>NZ</Country>
  </Address>
</Location>

For Unitary Authorities, ValEx models a Territorial Authority linked to a Region, each having the same name.

There are Gisborne District, Nelson City, Tasman District, Marlborough District, and Auckland Council.

Chatham Islands Council is not modelled at this stage.

Regions are modelled along geographic features such as major drainage divides, and Territorial Authorities are based on populations. As such, a Territorial Authority can exist in more than one Region - Taupo District for instance exists in 4 regions.

Country

//Address/Country

Territorial Authority

//Address/State[@Name="Other"]/@OtherDescription

Suburb/Postcode

//Address/City
//Address/Postcode

Regions in New Zealand

See wikipedia for a full list.

Public holidays in New Zealand

At this stage, public holidays are not modelled for individual regions of new zealand - only national holidays are recorded.

Area specific public holidays are associated with provinces or other geographical constraints which are distinct from Suburb/Territorial Authority/Region.

Service Types / Products

As of January 2012, only Long Form reports and EVR are generally supported. This is because Short Form are based on the Australian Property Institute's PropertyPro format, which obviously is not suitable for New Zealand.

Replacement Value (@InsuranceAssessment)

We parse Replacement Value from ValueComponent/@InsuranceAssessment. This field is required by a Critical Check (see Replacement Insurance Critical Check.)

The Replacement Value field is strictly a numeric value except for unit report types, where you may use non-numeric text to describe the strata insurance arrangement.

  1. If the report type is a normal dwelling or vacant land (any non-strata report type), then we require a numeric dollar value. A text value will not populate onto the report!
  2. Otherwise, if the report type is a strata unit, then we require a textual string explaining the insurance situation. A typical example is "Building insurance arranged by Strata Corporation." A dollar value is also acceptable if the unit is non-strata.

vx:Delay

We have created a ValEx namespace to escape LIXI limitations.

The first feature of this namespace enables valuation firms to specify a delay reason ID that relates directly to how delay reasons are modeled within ValEx.

If the vx:Delay node is supplied, then it will be used in favour of standard LIXI Workflow/@DelayReason.

An example follows:

<?xml version="1.0" encoding="utf-8"?>
<ValuationTransaction
    xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
    xmlns="https://vx.valex.com.au/lixi/schema/1.4.1/ValuationTransaction.xsd"
    xmlns:vx="https://vx.valex.com.au/lixi/schema/vx/0.1/#"
    ProductionData="No">
    
    <-- LIXI Standard Content here -->
        
        
        <vx:Job>
            <vx:Status>
                <vx:Delay ReasonID="4">
                    <vx:Comment>Unit test delay comment</vx:Comment>
                </vx:Delay>
            </vx:Status>
        </vx:Job>
        
        
</ValuationTransaction>

Delay reasons are:

ID	Reason
4	Next visit to Location
9	Request is Outside of Lender policy
13	Inspection Contacting Issues
14	Access Issues
15	Property Identification
16	Insufficient Documentation (Client/Lender/Broker to Provide)
17	Other
18	Cancellation Request
19	Request to Change Service Type
20	Fee Approval
22	Request to Change Service Type and Higher Fee Approval


Testing Tools - Ordering Test Jobs

Order test jobs using our testing tool.

Escalation Reasons

We document our escalation reasons at:

http://vxtest.valex.com.au/tests/evr/escalation-reasons.php

If this is not up to date, please advise us.

See also: Escalation of Service Type

LIXI Queue Log

Within ValEx, we have a LIXI Queue Log. This can be useful for debugging LIXI issues.

To access the Queue Log, simply log into ValEx, open a job record, and click on the Queue Log icon in the upper right-hand corner.

This is an explanation of some of the less obvious information:

Queue This can be inbound from client to valex, outbound from valex to valfirm, inbound from valfirm to valex, or outbound from valex to client.
Method This can be soap-lixi, or email-pdf (usually you should only be concerned with soap-lixi).
Packet Type This can be a request, workflow, or response

You can download the following files:

  • Raw: The raw SOAP Request
  • Payload: The LIXI Message sent in the SOAP Request
  • Response: The raw SOAP Response

Receiving a Copy of the Final Valuation Response After Submitting to the Client (for Valuation Firms)

Note: This is not for Clients! This is for Valuation Firms!

We support sending a copy of the final valuation response that is sent to the client to the valuation firm.

The implementation is a simple as adding a response(xs:string lixi_valuation_xml) to your SOAP server. We then need to implement this in your SOAP Client in ValEx (ValEx has a separate SOAP client per each Valuation Firm Integration Partner) and schedule time for testing.

The LIXI message will be similar (but not the same) as you send back to us. Basically, the response will be an interpretation of your response, which is a standard LIXI message (not a workflow). All ValEx identifiers will be in their usual locations.

If you want an example of the LIXI message that is sent, log into ValEx and check the Queue Log for any completed LIXI job. You should look for a response sent to the valfirm (we queue the LIXI message even if we do not support actually sending it).

Due to the queue system, the response may be delayed by up to 10 minutes on average.

Extending the LIXI standards

One problem we have encountered a number of times is the requirement to go beyond the LIXI valuation standards.

This is because the LIXI standards really do represent the most common uses; but the ValEx platform and its partners are seeking to innovate - the two goals of innovation and standards often conflict.

Consequently for the 1.4.1 version of the ValEx XSD, we are introducing a minimal change to allow much greater extensibility.

We are introducing an <xs:any namespace="##other" minOccurs="0" maxOccurs="unbounded" processContents="skip"/> node.

What this allows is for lixi partners to define information in a non-lixi namespace; without breaking schema validation.

For instance:

<ValuationTransaction xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
xmlns:foo="http://foo.com"
ProductionData="No">
            
            <-- Appearing after the RelatedPartySegment or AttachmentSegment -->
            <foo:Foo>Hello! I'm a custom string, but could be any valid custom XML structure</foo:Foo>
</ValuationTransaction>

We are strongly advocating this amongst the LIXI valuation and CAL standards group as a way to move forward with custom or proprietry requirements; whilst still remaining LIXI standard compatible.

You can preview and update to the 1.4.1 schema; which is not yet in use by the ValEx application.

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