Valuers Up For a Tough Break
I recently read an article on a surveyors and valuers’ website called Cheffins,which discusses how life is becoming harder for valuers due to the rapid changes in the UK financial market over the past year. They suggest that with the credit crunch looming over all markets at the moment, it’s of little surprise that the commercial property industry is slowing as well.
However, it’s now not just the selling that’s getting harder as people’s purse strings tighten. Life is also getting tougher for commercial property valuer’s. Previously they could rely on transactional evidence of a property to help them valuate it, but now it’s becoming increasingly difficult as the finance market is thinning and changing at such a rapid rate. With no real evidence as to where the commercial property market is heading it’s now even more crucial for valuers to have a true understanding and thorough knowledge of their market.
It has become clear to commercial property portal NovaLoca that commercial property valuers need to be very knowledgeable in regards to what has changed in the past, and especially in the past year, in order to predict what could happen in the future. One of the future developments for NovaLoca.com includes adding details of completed sales to database providing valuer’s with a tool to track changes in value of a given property and the commercial property market as a whole. For more information of this contact the customer services team on 01767313380.
