01 Feb 2026

Download the Valuation Guidelines here


Background

In 2024, the RICS introduced new rules on the governance of the valuation process. Members should follow this guidance, but the AREF guidance provides additional advice on valuer rotation.

AREF will continue to monitor what the RICS is advising and adjust the guidance accordingly.

Tags

Guidance Policy and Consultations

Author

Rachel Portlock

Rachel Portlock

Head of Research, AREF

Rachel is responsible for working with a number of AREF committees, including the Research, Corporate Governance and ESG & Impact Investing Committees.

Previous to joining, Rachel worked as an independent investment management professional in real estate and prior to this she spent 11 years at Aviva Investors in the Real Estate Team as a Strategist and six years at Henderson Global Investors. 

Rachel has taken on a number of projects for AREF over the last few years, including the End of Fund Life Project, the Fund Structures Report, the History of AREF and also worked on the Open Ended Fund Pricing Project, in conjunction with INREV.

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