The Income Approach To Property Valuation

The 8th edition of the longstanding and reputable textbook The Income Approach to Property Valuation elevates its practicality, broadens its international appeal, and cements its market leading status by incorporating the latest advancements in AI, PropTech and data analysis.

A classic textbook that has guided generations of students through the intricacies of property valuation receives a twist and a makeover in the hands of two new authors and under continuity editorship of one of the previous authors.

The Income Approach to Property Valuation has always been a firm favourite with undergraduate and postgraduate students and teachers. This new edition has a refreshingly contemporary focus and a more international reach, thoroughly updated and with new directions to meet the increasingly international perspectives of current real estate students. The links between theory and practice are further reinforced with updated and new case studies and exhaustive examples and problems with worked examples.

The Income Approach to Property Valuation facilitates understanding in

• How to fully analyse market rents, sales prices, and trends to derive market evidence to support an opinion of market value.
• The investment method(s) of valuation and how to apply them to a wide variety of situations.
• How specific internal and external factors impact on risk, value, and security of income.
• A range of valuation methods and how and when to apply them.
• The use of Excel formulae and how to apply them to the income approach.
• The expectations of valuers and the professional frameworks they operate within.
• And contemporary issues and their impact on valuations

This extensively revised and extended new edition is perfect for both real estate students worldwide and professional candidates working towards career enhancement, including the assessment of professional competence (APC) for the Royal Institution of Chartered Surveyors.

ACRONYMS

PREFACE

PART I :

CORE FRAMEWORKS, CONCEPTS, MATHEMATICS AND TECHNIQUES

Chapter 1: Introduction

Chapter 2: Legal and taxation frameworks

Chapter 3: Investment Property

Chapter 4: Market analysis

Chapter 5: Expectations of valuers

Chapter 6: Valuation Mathematics

PART II – VALUATION METHODS

Chapter 7: The comparison method

Chapter 8: The investment method

Chapter 9: The profits method

Chapter 10: The residual method and development appraisals

Chapter 11: The cost method

PART III – ADVANCED TOPICS AND APPLICATIONS OF VALUATION METHODS

Chapter 12: Automated valuation models

Chapter 13: Contemporary impacts on markets and values

Chapter 14: Evaluating valuers

PART IV - CASE STUDIES, ILLUSTRATIVE REPORTS AND SOLUTIONS

• Case Study 1

• Case Study 2

• Appendix A Illustrative investment property purchase report

• Appendix B Illustrative development site appraisal report

• Appendix C Solutions to Questions in Chapters

Nick Nunnington is a visiting professor of corporate real estate at Nottingham Trent University and an assistant professor at Neapolis University Paphos. He worked for many years at Sheffield Hallam University, before moving to Abu Dhabi to become an associate vice provost for the 17 colleges of the Higher Colleges of Technology across the United Arab Emirates. He also developed and taught real estate courses at the University of Adelaide