What is a property valuation, in plain words?

By Parish Rao · 25 August 2026 · 6 minute read

Someone has told you to get your property valued. A bank, a chartered accountant, a lawyer, an embassy. You have never done this before and nobody explained what it means. Start here.

The simple version

A property valuation is a written, signed opinion of what your property is worth, prepared by a qualified person who visited it and can show how they reached the figure.

That is the whole idea. The document exists so that somebody else, a bank or a tax officer or a judge, can rely on the number without having to trust your word for it.

It is not the same as a broker's estimate

A property dealer can tell you what your flat might fetch. That is useful, and it is free, and it is worth having. But it is a conversation, not a document.

A valuation report is different in three ways. It comes from someone with a registration that can be checked. It shows the evidence behind the number, usually actual sales of similar properties nearby. And it can be produced to a third party who has no reason to believe you.

That is why nobody asks for a broker's WhatsApp message when a loan or a tax return is involved.

Who is allowed to do it

Not anyone. For anything official, the report has to be signed by a valuer who is registered for that purpose. A registration number appears on the report and can be verified.

This matters more than people expect, because different registrations cover different work. We explain the differences in who is allowed to sign a valuation report, and what "government approved" really means in this post.

What actually happens

1. You call and describe the propertyWhere it is, roughly how big, and above all what the report is for. The purpose decides everything else.
2. An engineer visitsUsually within a day. They measure the property, look at the construction, and photograph it. About an hour for a normal flat or house.
3. Evidence is gatheredThe official rate for your area, and records of what similar properties nearby actually sold for.
4. The report is written and signedTypically in 48 to 72 hours, in the format whoever asked for it expects.

Why the purpose changes the report

This surprises people. The same flat can have more than one correct value, because different questions are being asked.

A bank wants to know what it could recover if it had to sell quickly. A tax officer may want what the property was worth on a date decades ago. A family dividing an estate wants today's fair market value. An embassy wants a clear current figure in a format it recognises.

So the first question we ask is never about the property. It is what the report is for.

Do you actually need one?

Sometimes no, and we will tell you when the answer is no. Our post on whether you need a valuation at all goes through the situations where it genuinely matters and the ones where it does not.

If you are still unsure, the free which report tool works it out in five questions, or just call us and describe your situation. That conversation costs nothing.