I predict that within 18 months we will see the demise of the meaningless RV (Rating Valuation) used in marketing property. In its place we'll see greater use of (IV) Insured Value.

It won't be SI (Sum Insured) since that doesn't look too flash as a marketing tool. Much better to have a large number like IV which will be greater than RV if for no other reason that it needs to include demolitions and ground work costs rater than the value of capital improvements.

Then over time we will see RV move towards the IV value as councils get smart and legislate that IV details need to be registered with council so they can use this data rather than spend money on getting random valuations done throughout their area.