There has been much discussion about variance in valuation and valuation accuracy see for instance Hager and Lord, (1985), Lizieri and Venmore-Rowland (1991), Mallinson, (1994). Hutchinson et al (1996), and Crosby Lavers and Murdoch, (1998). In spite of this, concerns over valuation accuracy continue to be debated and figure highly in the professional press. These concerns are well illustrated by the recent publication by Baum et al (2000) which produced a rapid and high level response to the effect that that valuation accuracy was at the heart of client confidence and the profession needed to keep its house in order (Propertyweek, 2001). This research is intended to contribute to that debate. It examines the nature of valuers' perception of self accuracy versus their perceptions of others as well as the actuality, viewed in the context of the courts use of "a margin of error". This paper builds upon the work already undertaken in the context of a larger research project. It will be updated to include relevant data and research findings from that larger project, as available and appropriate. In order to study valuation variation, the larger project utilises 'mock' valuations of properties provided by each of the Fuller Peiser offices and a further additional property from contacts in Cardiff. The results will be analysed and the data used for comparison between: Valuation methodology The valuations arrived within valuers sub-groups themselves The valuations arrived at by the valuers and the eventual sale price (where possible) The valuations arrived within valuers sub groups themselves, and their estimates and understanding of how accurate they anticipate being, and The valuations arrived within valuers sub groups themselves and wider research, also to be conducted, into how accurate valuers generally expect their answers to be, compared with their colleagues. The research is to study not only the valuations received but also the views of surveyors regarding the valuations provided by themselves and their colleagues. The research will also be related to the courts use of "a margin of error". In addition questionnaires targeted at valuers within these and other regions will be used to compile information relating to valuers' perceptions of their potential accuracy versus that of other valuers.

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