Property News Archive

Valuers 'chasing house prices downwards' claim

Wednesday 6th May 2009

There are growing concerns about the role of valuation surveyors in the downturn.

Peter Redfern, of Britain's biggest house builder Taylor Wimpey, told the Daily Telegraph that he was "concerned and frustrated" that valuers are not judging homes on their current value, but instead are pre-judging future falls.

He said that these valuations then become a self-fulfilling prophecy.

He also said that some lenders have put pressure on valuers so they limit the size of the mortgage.

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