Property valuation in the UK: material uncertainty and COVID-19

IF 1.6 Q3 BUSINESS, FINANCE
N. French
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引用次数: 8

Abstract

PurposeAn understanding of uncertainty has always been an integral part of property valuations. No valuation is certain, and the valuer needs to convey to the user of the valuation in the degree of uncertainty pertaining to the market value.Design/methodology/approachThis practice briefing is a short overview of the importance of understanding uncertainty in valuation in normal markets and the particular difficulties now with the material uncertainty created by the COVID-19 pandemic.FindingsThis paper discusses how important it is for the valuer and the client to communicate and understand the uncertainty in the market at any point of time. The COVID-19 has had a significant impact on property values and the importance of clarity within valuation reports.Practical implicationsThis paper looks at the importance of placing capital and rental value changes due to material uncertainty in valuation reports.Originality/valueThis provides guidance on how professional bodies are advising their members, around the world, on how to report valuations and market value in the context of material uncertainty.
英国房地产估价:材料不确定性与新冠肺炎
目的对不确定性的理解一直是房地产估价的一个组成部分。没有估值是确定的,估价师需要向估值的使用者传达与市场价值相关的不确定程度。设计/方法/方法本实践简报简要概述了理解正常市场估值不确定性的重要性,以及COVID-19大流行造成的重大不确定性目前带来的特别困难。本文讨论了评估师和客户在任何时候沟通和了解市场的不确定性是多么重要。COVID-19对房地产价值和估值报告透明度的重要性产生了重大影响。本文着眼于在估值报告中由于重大不确定性而导致的资本和租金价值变化的重要性。原创性/价值本指南就专业机构如何在重大不确定性的情况下,就如何报告估值和市场价值向世界各地的成员提供建议提供指导。
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来源期刊
CiteScore
3.50
自引率
23.10%
发文量
33
期刊介绍: Fully refereed papers on practice and methodology in the UK, continental Western Europe, emerging markets of Eastern Europe, China, Australasia, Africa and the USA, in the following areas: ■Academic papers on the latest research, thinking and developments ■Law reports assessing new legislation ■Market data for a comprehensive review of current research ■Practice papers - a forum for the exchange of ideas and experiences
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