FAQs

A valuation report is the professional assessment of a property’s market value by a certified valuer. One of our valuation consultants will visit the home and base the report on the inspection, its sales history and other market data.

A valuation report will help you understand the value of your (or your client’s) assets and help with investments for the future. Learn more about valuation reports here.

A property valuation is carried out by a RICS-accredited valuer and results in a formal evidence-based report. These valuation reports help with financial planning. 

In contrast, market appraisals are informal, not insurance-backed, and are conducted by estate agents who are not regulated to the same standards as chartered surveyors, and carried out before putting a property on the market. 

The market appraisal is an informal figure based on an experienced estate agent’s estimates, while a formal valuation is based on in-depth research on and analysis of a broad range of aspects.

Many people experience a lack of confidence in decision-making, especially when it comes to homes or investments. A home has intrinsic worth built on a foundation of memories, but the value of a property can be eroded and assets consumed. 

Rock-solid decisions in finances require expert insight based on thoroughly researched facts and independent opinions.

A high-quality valuation report is essential for the financially literate, helping you to understand the issues. A valuation report holds significant importance for buyers of super prime properties. The reasons that Ultra-High-Net-Worth Individuals (UHNWIs) need them include for asset portfolio management, investments, tax and estate planning, risk mitigation, and legal and financial compliance.

The main benefit of a property valuation is in planning for the future and understanding the true value of your assets. Valuers who are chartered surveyors understand market behaviour and can communicate the true valuation of a property to their clients.

Property valuation is usually sought during milestone events or at a crossroads in life. In a rapidly evolving landscape, with changeable market conditions and in light of predicted property trends, a property’s value can change or be detrimentally impacted. Reviewing a property regularly while considering these factors helps you to be prepared and decisive. We provide an expert lens. Our analysis and deep understanding of market indicators enable you to interpret your property’s presentation in this context. 

Having regular conversations about value and reviewing the property episodically will enable you to safeguard the value and potentially prevent the erosion of wealth.

First, search the RICS Find a Surveyor website to identify firms of chartered surveyors in the relevant geographical area or the nearest city. Ensure they are explicitly ‘RICS regulated’ as this indicates that the firm submits annual returns to the RICS and is more tightly regulated than those that do not.

Check the firm’s website to identify whether they cover the type of property you need to value. You can cross-refer this information with a check of the firm on LinkedIn, and also check any employees that are listed.

Next, look up the valuer on the RICS Find a Member website and check, most importantly, that they are an RICS Registered Valuer and have membership in the RICS Valuer Registration Scheme (VRS). Under the rules of the VRS, the member has to submit an annual return stating which areas of valuation they specialise in and where geographically. This is to prevent valuers from straying into areas that are outside of their expertise.

When appointing a valuer, be aware that they are only as good as their network of contacts on which they rely for information and insight. If they don’t have access to a trustworthy pool of experience from a broad range of sources, they’ll only have visibility and a limited understanding of a fraction of the market.

It’s the valuer’s knowledge and skill, and their underlying network, that allows them to dig deep below the surface of the digital data to provide forensic analysis and an opinion that’s robust enough for the client to sleep at night. Clients deserve to know who’s at the coalface preparing the valuation rather than trusting the strength of their employer’s brand.

Prime Central London (PCL) isn’t a fixed area but a term encapsulating the ‘Golden Postcodes’ – the most expensive postcodes in London where most of the super-prime property is found. 

The area can’t be defined or fixed because it has – and continues to – evolve and grow over time. Many surveyors, agents, and property professionals track and monitor these changes with great interest, and it is something we cover in our research and discuss at many of our events.

Prime Central London currently includes areas of Westminster City Council and The Royal Borough of Kensington and Chelsea, and some parts of the boroughs of Hammersmith and Fulham, and Camden.  These incorporate Bayswater, Belgravia, Chelsea, Holland Park, the Hyde Park Estate, Kensington, Knightsbridge, Little Venice, Marylebone, Mayfair, Notting Hill, Regent’s Park, South Kensington, St James’s, St John’s Wood, and Westminster.

Within the UK market, there are three property levels defined according to the value of the property:

• Core describes properties valued up to £3m
• Prime property is valued from £3m to £15m
• Super-prime property is valued at over £15m

When considering the rental market, we see similar bands, although with one extra:

• Core property rentals are £ 0 to £ 1,500 per week
• Prime rentals are from £ 1,500 to £ 5,000 per week
• Super-prime are rentals from £ 5,000 to £ 20,000 per week
• Super-prime plus* rentals are £ 20,000 per week and above

Super-prime describes some of the most expensive and exclusive properties on the market.

An expert witness is a person whose level of skill in a particular field qualifies them to present their opinion about the facts of a case during legal proceedings.

In general, an expert provides an opinion in the form of a report that is suitable for Court purposes. Following this, they provide written clarification to the parties on points of detail and may be called upon to attend mediations or face cross-examination by barristers in Court or Tribunal.

A property or valuation expert witness is an expert who provides testimony in legal proceedings related to property valuation matters. They play a crucial role in litigation cases, arbitration, or other legal disputes where property values are a central issue. Their testimony is aimed at helping the court or the involved parties understand complex valuation concepts, methods, and the factors influencing the value of a property.

Chartered surveyors are surveyors recognised by the award of formal accreditation from RICS. Not all chartered surveyors are specialist valuers. 

Chartered surveyors don’t share a single job description as there are several types, and while the term ‘valuer’ is not exclusive to them, the valuation conducted by a chartered surveyor is distinctive.

RICS accredited chartered surveyors have undergone rigorous assessment and are dedicated to ongoing professional development, committing to twenty hours annually, with at least ten hours focused on ethical standards.

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