Agricultural and rural property
The same valuation principles apply to agricultural land and buildings as to any other property asset. Valuation requires an analysis of the subject, and in particular the qualities of the subject property. Agricultural and rural properties have a wide divergence of type and character, and overlap into other markets such as residential housing and commercial business. The agricultural and rural elements of the valuation are the focus in this section.
This section highlights the breadth of the challenges faced by the agricultural and rural valuer, potentially with every new instruction. Rural valuation can be endlessly fascinating, especially as it is constantly changing and evolving. For example, milk quotas came and went, we have had renewables and other forms of diversification, and now we are starting to see the influence of natural capital and green finance. New developments, as we adjust to farming and rural life outside the EU, will continue to fuel this interest and diversity.
This section is maintained by Charles Cowap, RICS Registered Valuer.
RICS standards: RICS Valuation – Global Standards
RICS standards: RICS Valuation – Global Standards: UK national supplement 2018
RICS standards: Valuation of rural property
Document template: Rural valuation checklist