Property Valuations by RICS valuer within Dorset and Hampshire
We have been valuing both commercial and residential properties since the 1980s. We are able to help with sale , acquisition, probate, matriminial immigration, disputes and various HMRC matters.
We offer a personal helpful service and are registered RICS Valuers. For a competitive price please contact me at the below.
Property Valuations Hampshire and Dorset
A red book valuation is the name that is given by practitioners to a valuation report that adheres to the Royal Institution of Chartered Surveyor’s Valuation Professional Standards, also known as the Red Book.
The valuation standards are a set of mandatory rules and guidelines for RICS Registered Valuers to follow when they are undertaking valuations. They do not tell a Valuer how to value a property – that is left to the individual Valuer to use his or her training, experience and judgment – but they do set out the standards that should be followed.
The standards cover such subjects as ethics, duty of care, the qualifications of the valuer and the minimum content of a valuation report. Their aim is to ensure that the report received by a Client is prepared to the highest possible professional standards, that there are no conflicts of interest and, as only RICS Registered Valuers are permitted to undertake red book valuations, that it has been prepared by a suitably qualified practitioner.
Red book property valuations are the preferred form of valuation report for banks when contemplating secured lending, by HMRC for taxation, lawyers that are dealing with property disputes, accountants for capital accounting and charities that need to meet statutory requirements. These parties, organisations and institutions know that when they receive a red book report, the valuation figure is well considered, backed with robust commentary and evidence and will stand up to scrutiny.
Clients often ask what the difference is between a red book valuation and the free ‘valuation’ an estate agent provides prior to sale. Strictly speaking, these are not valuations and instead should be considered as marketing appraisals and are generally not sufficient for taxation, secured lending or accounting purposes. The reason for this is that the recipient cannot be entirely sure of the qualifications, objectivity and independence of the person undertaking this work, whereas with a red book valuation, the recipient knows that the party is a Registered Valuer and is required to undertake a set number of hours training every year and must adhere to the RICS’s high ethical standards. Valuation reports do not comment on defects other than to state the property appeared after a cursory inspection to be in good, reasonable or poor condition. Lofts are not inspected nor are damp meter readings taken.
A RICS valuation report is delivered by a RICS valuer by carrying out following tasks:
- Desktop research: Market research to identify relevant comparables that are like for like in terms of property type, size, and age and within limited distance to the property being inspected.
- Visual Inspection: Undertake a visual inspection of the property to the extent which is accessible with safety and from within the boundaries of the site and/or from adjacent public/communal areas.
- Post inspection analysis: Post inspection ‘number crunching’ i.e. translating the raw data into usable outcomes for the valuation report.
There is no longer such a thing as desktop valuation; we will have to reattend and go through the whole process for the same fee as previously.
All valuations are purely for clients and not lenders and we are regulated by the RICS
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Savills Forecast …
House price growth will be flat across the UK next year due to economic uncertainty, according to estate agency Savills, picking up by 2pc in 2018 as the progress of Brexit negotiations becomes clearer.
Savills has forecast that house prices across the UK will rise 13pc in the next five years, fuelled by a significant increase of 5.5pc in 2019 as the anticipated negotiations to leave the EU bring certainty to the market. In London, this figure is 10.9pc. This growth is forecast to be weaker than the increase in rental prices, which will rise by 19pc across the UK generally in the next five years and in London by 24.5pc.
Some of the towns covered are Bournemouth, Poole, Wimborne, Christchurch, Ferndown, Highcliffe, Barton on Sea, Milford on Sea, Bransgore, Ringwood, New Milton, Lyndhurst, Brockenhurst, Sway, Hordle, Winchester, Lymington, Hythe, Southampton, Chandlers Ford, Romsey, Basingstoke, Alton, Downton, Aldershot, Portsmouth, Dorchester.