Inside Housing have reported post the fire at Grenfell Tower
“There has been widespread uncertainty over what value tower blocks should be considered to have, following June’s fire at Grenfell Tower in west London. JLL and Savills, the two leading valuers in the sector, spoke out for the first time about their concerns this week.
Social housing properties are typically valued using the Existing Use Value – Social Housing (EUVSH) methodology, which includes an assessment of the cost of repairing and maintaining the property and could be affected by safety works, such as the removal of cladding.
Valuers have therefore taken the unusual step of introducing an “abnormal uncertainty” clause into their assessments.”