A RICS House Valuation typically costs around £354. Prices generally range from £337 - £605, depending on the property's type, size, and location.
While there are different types of property valuations, a RICS House Valuation is often seen as the most reliable because valuation surveyors use both local and national data to determine a property's market value.
You’ll need to arrange a RICS House Valuation if you’re selling a property with additional legal issues such as probate, or repaying a Help to Buy loan.
What is a RICS House Valuation?
A RICS House Valuation, also known as a Red Book Valuation, is a formal assessment of a property's market value, carried out by a RICS-regulated surveyor. It involves a property inspection and in-depth market research, with the findings set out in a report that follows strict professional standards.
The valuation provides independent, reliable advice to help clients make informed decisions, whether for selling, legal matters, or Help to Buy repayments. Learn more on our guide on Help to Buy Valuations.
The inspection considers the following:
Size and age of the home
How it was built and the materials it is made from
Number of bedrooms
Location and local government planning
Recently sold properties in the area
Condition of the home
If the property is leasehold (could need a lease extension valuation) or freehold
Any planning permissions
Added property features such as extensions
Learn more: RICS Valuation Report
RICS Property Valuation Cost
Below, we look at the cost of an RICS House Valuation based on the property’s value:
| Property Value | Average Cost |
|---|---|
| Up to £200,000 | £303 |
| £200,000 to £300,000 | £309 |
| £300,000 to £400,000 | £322 |
| £400,000+ | £394 |
Valuations increase in price with the property because expensive properties tend to be larger, which takes more time for the surveyor to inspect.
There is also a higher level of risk when valuing expensive properties, so surveyors charge more to manage their liability. Therefore make sure you compare valuation surveyors as costs could be different.
Read our guide on how to prepare for your house valuation to be prepared.
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Factors That Affect RICS House Valuation Costs
- Commercial or specialist properties often cost more due to the expertise involved
- Larger homes typically cost more to inspect and value
- Location affects price. Fees are often higher in the South East and hard-to-reach areas
- Valuations for legal, probate, or complex cases may cost more
- If included in a RICS Home Survey, valuation costs rise with the survey level. Level 3 is the most detailed and expensive
When Do You Need a RICS House Valuation?
RICS House Valuation Surveys are used for a range of cases. Here are some of the most common scenarios:
Help to Buy and Shared Ownership Properties
Help to Buy and Shared Ownership properties require a RICS House Valuation because the shares are sold to the homeowner at the current market value. When selling the home, they pay back the equity loan at a percentage determined by the market rate.
Probate Properties
A RICS House Valuation is required as part of the probate application process. Without a probate house valuation, a grant of probate cannot be approved and the property ownership can’t be transferred. The valuation determines how much Inheritance Tax (IHT) is payable on the estate.
Read more on our guide on the cost of a probate valuation.
Selling a Home
RICS House Valuations are the most reliable and it’s highly advised sellers receive one before putting their property on the market. Estate agents offer a valuation as part of their services, but it is not as accurate or thorough as the RICS House Valuation Survey.
Buyers Wanting a Second Opinion
Mortgage lenders will arrange a valuation as part of the conveyancing process; however, buyers can opt for a second opinion. This is typically done by adding it to a Level 2 or 3 Home Survey at an extra cost.
Free valuations won't work for probate, Help to Buy, or HMRC
If you're selling a Help to Buy property, applying for probate, or need a figure that HMRC will accept, a free estate agent or online valuation won't be enough. These situations require an independent RICS valuation that follows Red Book standards. Getting it wrong means either leaving money on the table or facing a tax bill based on a figure you can't defend.
Are There Other Property Valuations Available?
While RICS House Valuations are among the most trusted and widely used, they’re not the only type of property valuation available. The cost and purpose can vary depending on the type of valuation you need.
Here's how the cost of an RICS House Valuation compares to other options:
| Valuation Type | Average Cost |
|---|---|
| Mortgage Valuation | £100 [1] |
| Estate Agent Valuation | Free |
| Auction House Valuation | Free |
| Online Valuation | Free |
| Help to Buy Valuation | £199 [2] |
How We Get Our Cost Data
Life's big decisions deserve cost information you can trust. The figures in this guide are based on real quotes received by thousands of Compare My Move users. We review this data regularly to keep it accurate and up to date, so it reflects what people are really paying. Read more about how we get our cost data.
Sources
[1] Halifax
[2] FP Surveying
