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Mass valuations

Richard Grover (School of Built Environment, Oxford Brookes University, Oxford, UK)

Journal of Property Investment & Finance

ISSN: 1463-578X

Article publication date: 7 March 2016

1166

Abstract

Purpose

The purpose of this paper is to review the issues involved in the implementation of mass valuation systems and the conditions needed for doing so.

Design/methodology/approach

The method makes use of case studies of and fieldwork in countries that have either recently introduced mass valuations, brought about major changes in their systems or have been working towards introducing mass valuations.

Findings

Mass valuation depends upon a degree of development and transparency in property markets and an institutional structure capable of collecting and maintaining up-to-date price data and attributes of properties. Countries introducing mass valuation may need to undertake work on improving the institutional basis for this as a pre-condition for successful implementation of mass valuation.

Practical implications

Although much of the literature is concerned with how to improve the statistical modelling of market prices, there are significant issues concerned with the type and quality of the data used in mass valuation models and the requirements for successful use of mass valuations.

Originality/value

Much of the literature on mass valuation takes the form of the development of statistical models of value. There has been much less attention given to the issues involved in the implementation of mass valuation.

Keywords

Citation

Grover, R. (2016), "Mass valuations", Journal of Property Investment & Finance, Vol. 34 No. 2, pp. 191-204. https://doi.org/10.1108/JPIF-01-2016-0001

Publisher

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Emerald Group Publishing Limited

Copyright © 2016, Emerald Group Publishing Limited

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