| Comment | oh I agree it's an important value for borrowing, but I maintain it's a completely inconsistent value that might as well be plucked from the surveyor's arse. The fact that different areas have 'typical offers over percentages' is proof that there is no consistent methodology to it.
case in point: when I came to sell my first house, the HR value I was given was 80k, when other identical properties had sold for £100k that year, so I challenged it. The same day they sent me an amended report with a value of £125k.
Similarly, I jumped at the opportunity to get my current flat because it was so patently undervalued in the HR and the seller didn't know better
so yes they're important values but when everyone goes OMG it went for x% over HR, then that is *entirely* due to the HR value being utterly unconnected to the market value, because a house is worth what people are willing to pay for it, not what some surveyor makes up to avoid future liability |
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