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Valuation of buy-to-let and HMO properties
Published October 2022
Effective from 1 December 2022
There has been a major shift in the UK housing market that has led to an increased bias to private renting, both out of choice and out of need. These changes have their roots in tenure-neutral housing policies that have been adopted since the 1980s, the impact of which has been amplified by the general undersupply of homes and the affordability challenge faced by homebuyers.
Based on the English Housing Survey 2020 to 2021, 4.4 million households now call the private rented sector home. Growth has slowed since 2018 as regulatory and taxation changes have taken effect, although appetite for investment in the private rented sector remains strong given favourable returns compared with other investment opportunities.
A shift towards a higher proportion of professional landlords has also been seen over this period. The creation of buy-to-let has helped to shape a private rented sector that is fit for purpose and provides choice, value, and flexibility for tenants. Demand from tenants continues to be high and is expected to increase. The expansion of buy-to-let has created significant challenges for valuers in this market.
The purpose of this updated professional standard is to provide sufficient background information and guidance to ensure consistency in the assessment of residential investment properties to include:
- single residential units
- houses in multiple occupation and
- multi-unit blocks.
This document provides best practice and advice for members and end users. -
Valuation and sale price
Published March 2019
Reissued September 2024
The MSCI Real Estate Valuation and sale price study has been running for over 20 years. This study is an important measure for the investment valuation community and contributes to the transparency and integrity of the marketplace. Valuations are key to performance measurement and pricing in the property industry.
This report compares data from the 2017 MSCI UK Annual Property Index against the sale prices of UK commercial property. It analyses the performance of the valuation profession in the UK property market by tracking the difference between valuations of real estate against actual sales.
This report addresses two key questions in the UK market:
1. How much do sale prices differ from previous valuations?
2. Are differences random or were sale prices consistently above or below the latest valuation?
This document was reissued in September 2024 as practice information. It had previously been published in March 2019 as an insight paper. No material changes have been made to the document.