When purchasing a property, understanding seismic assessment reports is crucial for making informed decisions. These reports provide a %NBS (percentage of New Building Standard) score that rates how an existing building measures against current standards for new construction.
The Two Types of Seismic Assessments. Initial Seismic Assessment (ISA): This preliminary assessment tends to be more optimistic in its findings, partly because it relies on limited available information. While useful as a starting point, an ISA should be viewed as an initial indicator rather than a definitive evaluation.
Detailed Seismic Assessment (DSA): A more comprehensive and rigorous evaluation that provides greater accuracy. The Ministry of Business, Innovation & Employment (MBIE) recommends that property owners commission a DSA following an ISA to obtain a clearer picture of the building's seismic performance.
Critical Considerations for Buyers. As a prospective buyer, approaching seismic reports with a healthy degree of scepticism is prudent. The most significant risk lies in accepting a %NBS score that overestimates the building's actual structural quality, creating a false perception of value that could lead to costly surprises down the line.
A professional review of any seismic assessment report is essential to ensure it accurately represents the building's true condition. This independent verification can protect you from making decisions based on potentially inflated or inaccurate assessments.
When Results Fall Short. If a seismic assessment yields an unacceptably low %NBS score, commissioning multiple additional reports is rarely the solution. Instead of seeking different results through repeated assessments, focus on understanding the underlying causes of the low rating. Even a DSA with a lower-than-desired NBS score provides valuable intelligence that can inform your decision-making process.
The Problem with Multiple Reports. Obtaining multiple seismic reports on the same building often complicates rather than clarifies the situation. This confusion typically arises because different assessors may use varying baseline data or include different building elements in their evaluations, leading to inconsistent results that muddy the waters rather than provide clarity.
Professional Review Services. To address these challenges, specialised services are available to review seismic assessments against MBIE guidelines. These independent reviews provide an objective evaluation of %NBS scores, delivering actionable intelligence that supports informed decision-making whether you're buying or selling property.
Professional review creates a reliable benchmark for negotiations and discussions, removing barriers in the transaction process and establishing what industry professionals call "seismic clarity" – a clear, unbiased understanding of a building's true seismic performance.
Making Informed Decisions. Understanding seismic assessment reports is not just about numbers on a page; it's about making informed decisions that protect your investment and ensure the safety of building occupants. By approaching these reports with appropriate diligence and seeking professional guidance when needed, property buyers can navigate the complexities of seismic assessment to create opportunities.
