Quantity Surveyor (QS)

Quantity Surveyor (QS) is an independent construction cost professional engaged by the lender to verify that building work has been completed to a specified stage before releasing the next tranche of funding. In development finance, the QS is the gatekeeper for staged drawdowns — no QS sign-off, no next payment.

Why It Matters

Lenders do not release construction funds all at once. They release them in stages — and the QS is the independent verifier who confirms each stage is complete and the costs are on track. For developers, understanding the QS process means understanding how and when construction funds flow, and how delays in QS inspections can affect cash flow.

How It Works

The lender appoints a QS at the start of the project (the cost is usually borne by the borrower).
The QS reviews the building contract and prepares a cost-to-complete assessment.
At each construction stage, the builder claims a progress payment.
The QS inspects the site, verifies the work, and certifies the claim — triggering the lender's drawdown.

Common Use Cases

Verifying progress on townhouse development builds
Certifying staged drawdown claims for construction lenders
Cost-to-complete reporting for both senior and mezzanine lenders
Pre-construction cost review and contingency assessment

Related Switchboard Resources

For QS professional standards, visit the Australian Institute of Quantity Surveyors.

Who pays for the Quantity Surveyor?

The borrower (developer) typically pays QS fees. These are usually factored into the total project cost and included in the loan facility.

How often does a QS inspect the site?

The QS inspects at each drawdown stage — typically every 4–8 weeks depending on the project timeline and construction progress.

Can I use my own QS?

Most lenders require an independent QS from their approved panel to maintain objectivity. The developer may also engage their own QS separately for project management purposes.