Modern Methods of Valuation

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.

Preface to the twelfth edition Acknowledgements 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 7. Outgoings 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 approachand 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.UKvaluation applications 19.Valuations for rating 20. Taxation 21.Principles of the law ofcompulsory purchase and compensation 22. Compulsory purchase compensation (1): compensation for land taken 23. Compulsorypurchase 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. Index

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.