Modern Methods of Valuation, 11th Edition

The new and improved eleventh edition of this essential valuation textbook reflects the changes in the property market since 2009, whilst presenting the tried and tested study of the principles governing the valuation of land, houses and buildings of the previous editions.

The eleventh edition is fully up-to-date with latest guidelines, statutes and case law, including the implications of the latest RICS Red Book and the Localism Act. 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 to provide trainees (APC Candidates) and practitioners with current and relevant guidance on the preparation of valuations for statutory purposes.

Over the twenty eight chapters, the author team of experienced valuation experts present detailed accounts 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

1 Principles of valuation
2 Methods of valuation (valuation approaches)
3 Property in land
4 The market approach or comparative method
5 Market rent
6 Outgoings
7 Yield
8 Investment mathematics as it applies to property valuation
9 Income approach or investment method
10 Discounted cash flow
11 Residual approach or development method of valuation
12 Developments in valuation approaches
13 Some practical points
14 Principles of the law of Town and Country Planning
15 Development properties
16 Residential properties
17 Commercial properties (1): Landlord and Tenant Acts and rent reviews
18 Commercial properties (2): types of property
19 UK valuation standards: valuation for ?nancial statements; replacement cost (contractor’s) method; loan security valuations and fire insurance replacement cost
20 Valuations for rating
21 Taxation: capital gains tax
22 Principles of the law of compulsory purchase and compensation
23 Compulsory purchase compensation I: compensation for land
24 Compulsory purchase compensation II: compensation for severance and injurious affection
25 Compulsory purchase compensation III: compensation for disturbance
26 Blight notices
27 Purchase notices
28 Compensation under the Town and Country Planning Acts: revocation, modi?cation and discontinuance orders, etc.