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Valuation Reform – Where Are We Now?

In this episode of Listen Without Prejudice, we explore the current landscape of leasehold valuation reform with two of the UK’s leading voices in this field — Mark Chick, Senior Partner at Bishop & Sewell, and Charlie Davidson Senior Associate Residential Property. With major changes to valuation on the horizon, including the government's proposed move to an ‘online calculator’ and the simplification of the process for leaseholders to buy their freehold or extend their lease, this conversation unpacks the complexities, timelines, and legal implications of reform. Mark and Charlie dissect the Law Commission’s valuation recommendations and examine the government’s intentions, including the push to abolish marriage value and fix rates like deferment and relativity. They also reflect on the professional and legal concerns that remain, especially for valuers and practitioners navigating a landscape filled with uncertainty. Whether you're a legal professional, valuer, or simply trying to understand how upcoming legislation might affect your property, this episode is packed with insights. Chapter Markers: [0:58] Setting the scene – How we got here and what’s at stake [2:01] What the government wants to achieve through valuation reform [3:20] The Law Commission’s recommendations vs. the government’s direction [4:36] Concerns about abolishing marriage value and fixing the deferment rate [5:55] Practical implications for valuers and legal professionals [7:14] Unpacking the proposed online calculator – what might it look like? [8:23] Why current reforms may lead to further litigation [9:37] Predictions for what the legislation may include [10:32] Transitional issues and what we still don’t know