The Latest Property Value is the most recent estimate of a property’s open market value, provided by an external RICS accredited surveyor.
For New Listings this will be the agreed purchase price, which in turn is supported by a Chartered Surveyor’s physical inspection and valuation.
Thereafter, RICS accredited surveyors carry out desktop revaluations on an annual basis, with the valuations updated on or about the 30th of April. Every five years we repeat the Chartered Surveyor’s physical inspection and valuation process. This valuation is the basis for the five yearly exit process.