The assessment of the reduction in value of a building caused by the discovery of defects or D = P – (c/y)

Abstract

Discusses the current policies used in the assessment of the reduction in value of a building by the discovery of defects, using examples from court cases. Outlines the problems with the current methods and suggests further ways of assessing the value of a defective property. Examines the effect of the market on diminution and suggests the use of the formula D = P – (c/y) to calculate it. Explores the effect of urgency of a repair. Suggests that the absence of an agreed method of calculating diminution in value has led to the courts making their own rules.

Citation

Hollis, M. (1991), "The assessment of the reduction in value of a building caused by the discovery of defects or D = P – (c/y)", Structural Survey, Vol. 9 No. 1, pp. 46-50. https://doi.org/10.1108/EUM0000000003242