Worcestershire commercial property consultancy and Chartered Surveyors GJS Dillon is highlighting the importance of working with RICS qualified surveyors and valuers following the publication of new data on property measurement.
A report published by Spec property management systems found that houses in London are being inaccurately measured by an average of 92 square feet. According to the analysis, buyers face a discrepancy in valuations estimated at £119 billion in London alone.
Under RICS rules, surveyors are allowed a margin of error of 1% when taking measurements. However according to RICS, which recently published its own figures on property measurement, the error rate can be as high as 60%.
Jonathan Mountford, GJS Dillon’s Director of Valuations and Professional Services said ‘These figures highlight the importance of working with RICS registered valuers and surveyors. If a property is measured incorrectly, this can result in higher council tax, stamp duty and insurance costs’
James Marshall, CEO of Spec said ‘We need an assurance that property surveyors are appropriately certified and that a clear process is enforced to outlining rules to protect the interests of home buyers and tenants.’
Mr Mountford is one of three RICS Registered Valuers at GJS Dillon which has dedicated teams for valuations and building surveys . All registered RICS members must adhere to professional standards and have the expertise to produce high quality accurate reports. Further details about RICS professional standards can be found here http://bit.ly/2IngOyh
With offices in Worcester, Droitwich and Bromsgrove, GJS Dillon is the largest firm of Chartered Surveyors headquartered in Worcestershire. It offers a comprehensive commercial property service, including commercial agency, acquisition and business relocation, commercial property management, valuations, and building consultancy, and unrivalled geographical coverage, throughout Worcestershire and along the M5 and A38 corridors.