User guide: reflecting uncertainty in valuations

Published June 2011

This guide is prepared for the benefit of valuers and other users of valuations to provide a general understanding of the concept of uncertainty and the methods by which uncertainty, in valuations for investment purposes, may be identified and communicated with clarity.

It is not intended to provide training in valuation techniques but rather to give valuation surveyors, and other users of valuations, a general understanding of the matters that need to be taken into account.

Uncertainty is a feature of investment in real estate regardless of geographical location. Although this guide has been written from a UK perspective, with examples based on UK investments, the fundamental principles are universal. Uncertainty as a concept does not vary and this guide can be applied to investment properties in all markets around the world.