After a period of significant consultation, the International Valuation Standards have been rewritten and expanded and came into force on the 1st July 2017. The RICS have included these in full in the new 2017 Red Book. It is incumbent upon valuers to be fully conversant with the new changes as part of the continuing quality assurances procedures. This talk will address the changes to the Red Book in addition to looking at the uncertain the property world is currently facing especially since the BREXIT “yes” vote. In addition the talk will look at the impact of the Energy Act 2011 which will make it unlawful from April 2018 to let residential or commercial properties with an EPC Rating of F or G (i.e. the lowest 2 grades of energy efficiency) and how you deal with these changes when valuing property.
- An understanding of the impact of government legislation on the valuation of certain properties
- An understanding of adopting the correct model for each valuation
- An understanding of property pricing in uncertain markets
- An understanding of the role of regulation in property valuations
- An understanding of the changes to the new 2017 Red Book
Nick French is a recognised expert in the area of property valuation. He is Programme Director of the MSc Real Estate Programmes at Oxford Brookes University and teaches extensively in the areas of appraisal, valuation and corporate real estate on BSc, MSc and MBA programmes in the UK and around the world.
He is a member of the Royal Institution of Chartered Surveyors (RICS) and, until recently, he has held positions on the RICS’ UK Valuation Board and the Professional Board of the International Valuation Standards Council (IVSC).
Nick is also the Editor of the Journal of Property Investment & Finance, the award winning academic international journal of the real estate industry. He also writes regularly for, the Journal of Property Investment & Finance, the Estates Gazette, the European Journal of Real Estate Research, the Journal of Corporate Real Estate and other professional and academic journals.