The twelfth edition of this essential valuation textbook reflects the changes in the regulatory and statutory framework for property valuations that have occurred since 2013, as well as presenting the tried and tested principles and practices of real estate valuation.
The twelfth edition is up to date as of June 2018 with the latest regulations, statutes and case law, including the RICS Valuation – Global Standards 2017. Its comprehensive coverage of the legal, economic and technical aspects of valuation make this book a core text for most university and college real estate programmes, and it provides students and practitioners with current and relevant guidance on the preparation of valuations for statutory purposes.
Throughout the text, the author team of experienced valuers presents examples of the application of these principles to the everyday problems met in practice. This new edition continues to be of excellent value to both students and practitioners alike as it provides the reader with a clear understanding of the methods and techniques of valuation.
Table of Contents
Preface to the twelfth edition
Table of cases
Table of statutes
Table of statutary instruments
1. Principles of valuation
2. Valuation approaches and methods
3. Property law
4. Planning law
5. The market approach
6. Market rent
8. Property yields
9. Investment mathematics as it applies to property valuation
10. Income approach or investment method
11. Discounted cash flow
12. The cost approach and residual method
13. Developments in valuation approaches
14. Development properties
15. Residential properties
16. Commercial properties (1): types of property
17. Commercial properties (2): Landlord and Tenant Acts and rent reviews
18. UK valuation applications
19. Valuations for rating
21. Principles of the law of compulsory purchase and compensation
22. Compulsory purchase compensation (1): compensation for land taken
23. Compulsory purchase compensation (2): compensation for severance and injurious affection
24. Compulsory purchase compensation (3): compensation disturbance
25. Blight notices
26. Purchase notices
27. Compensation under the Town and Country Planning Acts: revocation, modification and discontinuance orders, etc.
Eric Shapiro is a Chartered Surveyor and Director of Professional Property Services, Chestertons. He has over 50 years’ experience in dealing with the management, valuation, sale and letting of residential and commercial property. He is a co-author of Valuation: Principles into Practice.
David Mackmin BSc, MSc, FRICS is a Chartered Surveyor. He is Emeritus Professor of Real Estate at Sheffield Hallam University and a former Visiting Professor in Valuation at the Technische Universität, Wien. He was for many years an assessor for the RICS Assessment of Professional Competence (APC). He is the author and co-author of a number of valuation books, including, with Professor Andrew Baum and Nick Nunnington, The Income Approach to Property Valuation.
Gary Sams is a Chartered Surveyor specialising in compulsory purchase and compensation, and module leader in statutory valuations for the University College of Estate Management. He is the editor and joint author, with Professor Andrew Baum, of Statutory Valuations and Legal Editor for the Journal of Property Valuation and Investment.