Leasehold reform valuation in England and Wales
Published August 2015
Effective from 1 December 2015
Archived 12 March 2024
RICS is aware of current and pending government and regulatory reform of residential leasehold.
Valuers are reminded that they need to be aware of the latest market and legal position prior to undertaking work related to this area.
RICS are currently reviewing leasehold reform valuation guidance for members. The 2015 guidance has now been withdrawn.
Valuation undertaken by RICS members must continue to be undertaken in accordance with RICS Valuation – Global Standards, noting that some elements of leasehold reform valuation such as ‘Providing valuation advice expressly in preparation for, or during the course of, negotiations or litigation’ (PS1 section 5), are excepted from mandatory technical standards.
Leasehold reform valuations are specialist in nature and valuers must be appropriately qualified and competent.
RICS continues to engage with government, industry and valuation professionals on leasehold reform matters and has made a number of statements, including:
- Reforming Ground Rents in England and Wales
- Residential ground rent investment – UK valuation leaders forum commentary
Former editions are provided for information purposes only.