6:00pm Wednesday 24th February 2010
To ensure consistency in the approach to the valuation of trees for amenity purposes RICS is today launching new guidance for its members, pulling together best practice guidelines on how and when to apply the methods currently in use.
The aim of this RICS guidance note is to assist valuers in dealing with some of the more complex issues which might arise with the presence of significant trees or groups of trees, either as part of a property or as separate entities. As a leading qualification in valuation standards, RICS members are often called upon to place a value on trees for insurance purposes or as part of a property valuation. The guidance note focuses on the need for the valuer to establish the facts surrounding what is being valued and outlines in detail the various valuation methods that can be utilised. The considerations outlined in this paper aims to help the valuer to frame their judgement and apply their expertise.
Commenting, RICS Spokesperson Charles Cowap, said: “There is no straightforward answer in most cases as to the value that can be placed on an individual tree or the effect that one or more trees will have on the overall price which a property might be worth. This guidance note pulls together all the existing methods for valuing trees, consolidating and refining them so that they apply to RICS’ standards of valuation.”
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