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.
Eric Shapiro is Director of Valuations at Chesterton Humberts, Chartered Surveyors. He has over 45 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, Emeritus Professor of Real Estate at Sheffield Hallam University, and Visiting Professor in Valuation at the Technische Universitat Wien. He is the author and co-author of a number of valuation books, including Valuation and Sale of Residential Property and, with Professor Andrew Baum and Nick Nunnington, The Income Approach to Property Valuation. Gary Sams is a consultant surveyor specialising in compulsory purchase and compensation. He is a part-time lecturer at Reading University and visiting lecturer for the College of Estate Management. He is Editor and joint author of Statutory Valuations, and Legal Editor for the Journal of Property Valuation and Investment.
Foreword Preface Acknowledgements 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 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 I: Landlord and Tenant Acts and Rent Reviews 18. Commercial Properties II: Types of property 19. UK Valuation Standards: valuation for financial statements; Replacement Cost (contractor's) method; loan security valuations and fire insurance replacement cost 20. Valuations for Rating 21. Taxation 22. Principles of the Law of Compulsory Purchase and Compensation 23. Compulsory Purchase Compensation I: Compensation for Land taken 24. Compulsory Purchase Compensation II: Compensation for 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, Modification and Discontinuance Orders etc