On 2 June a group of property valuation experts unveiled the Market Insights Report ‘Drivers for change: Strengthening the role of valuation professionals in market transition’. The report provides insights into current levels of consideration of energy efficiency and other sustainability aspects by valuation professionals when assessing the value of buildings. The report also outlines key barriers that currently hinder the consideration of energy performance data by the valuation community as well as local market sentiment with regard to sustainable buildings potentially commanding higher sales or rental premiums.
Two key barriers identified by the report concern
- the lack of availability of and access to robust transaction and building performance data across markets and
- skills and knowledge gaps amongst a significant part of the valuation professional community.
Addressing the skills gap, the findings of the report, which is part of the European funded project RenoValue (www.renovalue.eu), will inform the development of training material for property valuation professionals on how to factor sustainability into real estate market decision making and daily valuation practice.
Want to know more about energy-efficiency in property valuation? Then sign up to the EUSEW 2015 session on ‘Property valuation: Valuing the impact of energy- and resource-efficient buildings’. More info here.