This page provides an overview of the valuation workstreams RICS are considering. This also includes supporting insight that might be needed.
RICS ensures all products are for the benefit of members and the public. Any proposals are subject to this.
Further down this page you will find information on:
Please note: This table is a guide only and is subject to change due to evolving best practice and/or legislation. This table is reviewed and updated approximately every two months.
Topic |
Professional Standard |
Practice Information |
Other e.g. alert / notification |
New |
Update |
Geographical applicability |
Short term (0-2 years) |
||||||
Residential property valuation for owner occupation (separated out from the Red Book UK National Supplement) |
X |
|
|
X |
|
UK |
Bank lending valuations and mortgage lending value | X | X | Global | |||
Comparable evidence in real estate | X | X | Global | |||
Affordable housing developments - valuation considerations (replacing Valuation of land for affordable housing (overseen by the Land and Natural Resources Professional Practice and Development team) |
X |
|
|
|
X |
UK |
ESG in commercial property valuation and advice |
X | X | Global (with UK and EU Appendices) | |||
Valuation of properties in multi-storey, multi-occupancy residential buildings with cladding 2nd ed | X | X | UK | |||
Sustainability and residential property valuation | X | X | UK | |||
Data centres (cross-sector) |
X |
|
|
|
X |
Global |
Leasehold reform in valuation (England and Wales) (subject to legislative updates) | X | X | England & Wales | |||
Medium term (2-4 years) |
||||||
Valuation of residential leasehold properties for secured lending purposes (subject to legislative updates) |
X | X | UK | |||
Valuation of un-registered land (collaboration with UN and FIG and RICS Land & NR professional practice and development team) |
X | X | TBC | |||
|
|
|
|
X |
UK |
|
Valuation of individual new-build homes |
X | X | UK | |||
Valuation of independent healthcare properties |
X | X | UK | |||
Valuation of historic buildings |
X | X | UK |
The questions/points below are some of the things we initially consider at RICS when proposing a new knowledge and practice workstream/product. If you would like to suggest an idea to RICS for an area where you think valuers need further guidance, email knowledge@rics.org.
What is the problem you are trying to solve? How does this project opportunity solve the problem?
What data is available to help understand the size of the market and reach of the product?
Describe the expected result if we go ahead with this project, and/or the risks of not going ahead.
What data and/or insights (quantitative and/or qualitative information) do you have to support this opportunity?
Do we need to launch this product by a particular time and if so, why?
How will we know this product has been successful?
What resources will be needed for this?
Please note, regulation and conduct professional standards are developed by a separate professional standards team at RICS. Please contact them at regulation@rics.org with any queries.
If you have any comments you’d like us to consider regarding the table above, please feel free to get in touch at knowledge@rics.org.
If you’d like to engage with us further on developing our standards, please see the Collaborate with RICS: how to get involved with standards development page or join the discussion on the myRICS community.