Insurance News Archive
UK property valuations 'consistent'
Property valuations in the UK are consistent and credible, according to a new report.
A study of Britain's five biggest valuers by the Investment Property Databank (IPD) shows difference of opinion in the valuation of commercial property has "narrowed" in the last 18 months, Reuters reports.
The number of valuations rose by an average seven per cent then fell by 12 per cent during this period, the IPD study states.
Rupert Johnson, head of valuations at property services firm Knight Frank, told the news agency that value estimates also remained a "key challenge", exacerbated by a drop in property sales evidence due to "a dearth of debt funding".
"With rental values becoming harder to read in an increasingly uncertain real economy, communication between valuers and their respective firms' capital markets, leasing and research teams will be key to maintaining and indeed continuing to improve valuation accuracy," he added.
Knight Frank recently undertook research on the London market and found property prices across all sectors in the city increased 0.1 per cent in April.
However, according to a study by analysts PrimeLocation.com, average prices of commercial property in the capital feel by 0.6 per cent the same month.
13 Jun 2008
