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.
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
Not the same as a mortgage valuation
Useful for sellers, remortgaging homeowners, or for probate
Offers a quick price estimate but won’t uncover hidden issues
Costs around £367 and takes 3 days
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Valuation Survey vs Mortgage Valuation vs Home Survey
| Service | Who Benefits | Suitable For | Time Taken | Average Cost |
|---|---|---|---|---|
| Valuation Survey | Customer | Sellers, remortgaging, probate, shared ownership | 2 - 3 days | £367 |
| Mortgage Valuation | Lender | Buyers, remortgaging | 3 - 7 days | £325 |
| Home Survey (Levels 2 and 3) | Customer and lender | Buyers | 5 - 7 days | £445 - £629 |
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.
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?
Whether the property is of traditional or non-traditional construction
A brief inspection of the property's overall condition
Obvious signs of damp, structural damage, faulty wiring, roof damage, etc
If the building has been modernised or refurbished
Whether the number of bedrooms declared is accurate
How the property compares with other houses in the area
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How Much Does a Valuation Survey Cost?
By Property Price
| Property Price | Average Cost |
|---|---|
| Up to £200,000 | £390 |
| £200,000-£300,000 | £335 |
| £300,000-£400,000 | £310 |
| £400,000-£500,000 | £380 |
| £500,000+ | £600 |
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.
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.
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.
Read more on Valuation Survey Costs.
How Long Does It Take?
The Valuation Survey process takes approximately 3 days and consists of two stages: the inspection and the report.
Inspection: 1 – 2 hours
The inspection can take up to 2 hours, depending on the property's size. Your 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.
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.
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.
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.
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 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.
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.
Appendices
These are external sources to support the findings, usually photographs, but can also include maps, blueprints, and scanned documents.
Finding a Valuation Surveyor
Compare My Move will match you with up to 6 accredited valuation surveyors in your area. Fill out our valuation survey comparison form to compare quotes and save up to 70% on your fees.
Our partners 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 met.
*Based on the average service costs for Compare My Move users. See how our data works.
