Valuation of land for affordable housing
This guidance note aims to assist the valuer in the approach to the valuation of land for affordable housing by focussing on the affordable housing element of a scheme. The methodology behind the valuation of land for affordable housing has much in common with a conventional valuation of development land, therefore this guidance note should be read with an understanding of the contents of VIP 12: Valuation of development land.
The focus is on the valuation of land for housing and flats but the principles are broadly adaptable for other types of affordable housing, such as special needs and sheltered housing accommodation.
This guidance note applies only in England and Wales. It was written specifically with regard to practice in England where affordable housing provision is governed through the planning system. Where it differs, the practice in Wales is noted separately. In Scotland and Northern Ireland affordable housing provision is governed through housing policy. Although provisions there may differ in detail, the valuation approach is essentially the same and this guidance note may be adapted as necessary.
The effective date of the second edition of this guidance note is 28 April 2016.