For property valuers and lenders
Serrated tussock impacts on the productivity and hence value of agricultural land and hobby farms or lifestyle blocks. If extensive infestations exist or if left unmanaged the impacts can be devastating.
Ongoing management is required to control serrated tussock and should be considered in the valuation of a property.
Land valuers and lenders should:
- be aware of the areas where there are existing serrated tussock problems or areas at risk of infestation.
- report on the presence of serrated tussock on a property or in the locality.
- provide either general commentary on the need for continuing financial commitment to reduce and eradicate serrated tussock over a protracted period of time or suggest an independent report from an agronomist or Local Control Authority in relation to the cost of remediation.
- understand that the time to market a property subject to serrated tussock is likely to be longer.
- understand that a mortgagor in possession of a property subject to serrated tussock is liable under the Noxious Weeds Act regulations for the control of serrated tussock and other noxious weeds.