A Valuation Survey gives you an estimate of a property's market value based on a short professional inspection, helping you understand whether the price you are paying is fair.
Unlike a Mortgage Valuation, which is carried out for the lender, a Valuation Survey is designed to support your decision-making. It is often used by buyers, remortgagers, and those applying for schemes such as Help to Buy or Shared Ownership where they need a help to buy valuation or shared ownership valuation.
In this guide, we explain what a Valuation Survey includes, how much it costs, and how it compares to other types of property reports.
Key Takeaways
1
Not the same as a mortgage valuation
2
Useful for sellers, remortgaging homeowners, or for probate
3
Offers a quick price estimate but won’t uncover hidden issues
4
Costs around £354 and takes 3 days
Find Trusted Surveyors for Your Property Valuation
Valuation Surveys and Mortgage Valuations are two different services that are often used interchangeably, but this is incorrect.
Valuation Surveys benefit the customer in most cases, while Mortgage Valuations help lenders determine whether the loan is worth the financial risk by getting your house valued to ensure it provides sufficient security for the loan.
The Level 2 and 3 Home Surveys are far more extensive, as surveyors will inspect every element in detail and offer repair advice where possible.
What Does a Valuation Surveyor Look For?
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Whether the property is of traditional or non-traditional construction
2
A brief inspection of the property's overall condition
Those buying a property at the UK average property price of £292,000 can expect to pay around £335 for their Valuation Survey. In most UK regions, properties in this price range are likely to be 2 and 3-bed houses, whereas in city centres such as London, they are 1 and 2-bed flats.
2
By Number of Bedrooms
Number of Bedrooms
Average Cost
1
£410
2
£365
3
£285
4+
£420
Survey prices tend to rise with the number of bedrooms. One-bedroom properties are often city flats in high-demand areas, which can inflate costs. Larger homes may also cost more due to longer inspection times or increased perceived risk.
3
By Region
Region
Average Cost
London
£415
South East
£390
South West
£400
North West
£215
East of England
£360
East Midlands
£390
West Midlands
£265
Yorkshire and the Humber
£350
Wales
£365
London valuations cost more due to high property demand and financial risk. Our data shows that most of these queries were for 1 and 2-bedroom flats in the City of London postcodes. On the other hand, the North West of England boasts the lowest valuation costs due to cheaper property prices, despite most queries being for 3-bed houses.
The Valuation Survey process takes approximately 3 days and consists of two stages: the inspection and the report.
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Inspection: 1 – 2 hours
The inspection can take up to 2 hours, depending on the property's size. Your property valuation surveyor will use this time to check the general condition of the property rather than examining specific elements. They may also take photographs to support the final report.
2
Report: 1 – 2 working days
You should receive your report within 48 hours, as your valuer will cross-reference their findings with available information online. For example, if there are clear signs of renovations, they will source the planning permission documents.
What Does the Valuation Report Look Like?
You will receive your report via email as a PDF file. RICS have developed a baseline structure that makes the findings easier to digest.
Since the contents in the report can differ depending on the property and what information is available, we've grouped the report into 5 main categories: summary, findings, legal disclaimers, conclusions, and appendices. We've also included some example headings you could expect to find in your report.
1
Summary
Identification and status of the responsible valuer
Identification of the client and any other intended users
Purpose of the valuation
Identification of the asset(s) or liability(ies) valued
Basis(es) of value adopted
Valuation date
The opening sections will give an overview of the valuer and the client/s, property address and the date of the valuation. They'll detail why the valuation is taking place (i.e. selling, probate, etc) and comment on what valuation will be provided, with market value being the most common choice.
2
Findings
Extent of investigation
Nature and source(s) of the information relied upon, including sources of key data and inputs used
Assumptions and special assumptions
The valuer must declare any other reports that have influenced the valuation, as well as their own. The surveyor will note the property’s condition and highlight any obvious risks.
3
Legal Disclaimers
Restrictions on use, distribution and publication of the report
Confirmation that the valuation has been undertaken in accordance with IVS and/or RICS Red Book Valuation Global Standards
Valuation approach and reasoning, including any valuation method(s) and complex or proprietary model(s) used
This contains the legal fine print that protects the valuer and ensures the survey adheres to RICS' guidelines. They must declare all methods applied throughout the inspection.
4
Conclusion
Amount of the valuation or valuations
Date of the valuation report
Commentary on any material valuation uncertainty (MVU)
Limitations on liability
Significant environmental, social and governance (ESG) factors
The conclusion must include the valuation itself and the report date, as this can be used for reference if there are any sudden major changes in the market. Your valuer will also comment on any factors that may have hindered the survey.
5
Appendices
These are external sources to support the findings, usually photographs, but can also include maps, blueprints, and scanned documents.
Finding a Valuation Surveyor
A valuation survey can benefit both buyers and sellers. To ensure reliable results, we recommend hiring a reputable, RICS-registered valuation surveyor.
Konnect You will match you with up to 5 accredited surveyors in your area. Fill out our valuation survey form to speak with local surveyors in your area.
Companies must pass a strict verification process to join our network. Part of this process requires valuers to be regulated by RICS to ensure industry standards are adhered to at all times.
FAQs
Yes, Home Reports include a valuation which can be found in the Single Survey section. Home Report inspections are equivalent to a Level 2 Home Survey, so you'll find more information in these compared to the standard valuation report.
Yes, if your surveyor is regulated by the Royal Institute of Chartered Surveyors (RICS), their valuation can be trusted. The report will follow the structure and format established by RICS, which is viewed as the industry standard.
How We Get Our Cost Data
Life's big decisions deserve cost information you can trust. The figures in this guide are based on real prices received by thousands of Konnect You users. We review this data regularly to keep it accurate and up to date, so it reflects what people are really paying. Read more about how we get our cost data.
