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Ask and ye shall receive

By: Series: Estates Gazette ; (0421) 22 May 2004, 140-141(2)Publication details: 2004Subject(s): Summary: Reports on new ODPM commissioned research from the College of Estate Management that has found tenants appealing the official valuations of their council homes are routinely having more than 10% knocked off the asking price, especially in London. "Valuing for right to buy : a review of the valuation process in sales of local authority housing to sitting tenants" (J126372) also reveals that 36% of landlord valuations were reduced on appeal by more than 10% and only 2% increased, that the number of appeals in England has risen by 50% over the four years since 1997 and the 25% of councils with the highest appeal rates accounted for 54% of all appeals and 31% of all right-to-buy admissions. It also recommends a valuation code of practice by and for local authorities and Valuation Office Agency officers. Suggests that pressure is mounting to make it harder to sell off council stock at a discount. Includes a chart covering the effects of appeals on valuations.
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Item type Current library Call number Copy number Status Barcode
Journal article London Journal article ABS67975 (Browse shelf(Opens below)) 1 Available 126527-1001

Reports on new ODPM commissioned research from the College of Estate Management that has found tenants appealing the official valuations of their council homes are routinely having more than 10% knocked off the asking price, especially in London. "Valuing for right to buy : a review of the valuation process in sales of local authority housing to sitting tenants" (J126372) also reveals that 36% of landlord valuations were reduced on appeal by more than 10% and only 2% increased, that the number of appeals in England has risen by 50% over the four years since 1997 and the 25% of councils with the highest appeal rates accounted for 54% of all appeals and 31% of all right-to-buy admissions. It also recommends a valuation code of practice by and for local authorities and Valuation Office Agency officers. Suggests that pressure is mounting to make it harder to sell off council stock at a discount. Includes a chart covering the effects of appeals on valuations.