RICS has launched a public consultation on its revised global practice guidance Comparable evidence in real estate valuation, 2nd edition, 2026.
Comparable evidence remains at the heart of real estate valuation. However, the ways in which valuers collate, analyse and use comparable evidence continue to evolve at a rapid pace, driven by increasing data availability and advances in technology.
The amount of market data available to practitioners has grown significantly in the past few years. In addition, there has been an increase in the number of analytical tools that allow valuers and their clients to better evaluate evidence and understand how markets perform.
With the emergence of new technologies come various important professional issues relating to transparency, reliability and confidentiality, along with the proper use of technology in valuation practice.
Responding to changing market expectations
This updated version of the current guidance takes into account the key factors currently affecting all aspects of valuation, including sustainability. This reflects the fact that environmental performance data, energy efficiency metrics and wider environmental, social and governance (ESG) considerations are increasingly informing market analysis and valuation advice.
As valuation practice becomes an increasingly data-rich and technology-enabled environment, it is important that RICS' professional guidance evolves to remain aligned with market practice.
Paul Batho, chair of the RICS working group for comparable evidence in real estate valuation said:
'Comparable evidence remains essential to the valuation process. However, the context in which valuers rely on comparable evidence is rapidly transforming.
'The improved accessibility to data and enhancements in technology create greater potential for improving analysis and providing greater insights into market behaviours.
'But these improvements in data availability and technological capabilities place greater emphasis on professional judgement, transparency and consistency.
'This review was undertaken to ensure that the RICS comparable evidence guidance remains relevant to valuation professional practice worldwide, while being at the same time firmly grounded in the principles that underpin credible valuation advice.'
Consultation feedback will shape future practice
RICS is encouraging valuers, firms, lenders, investors and other interested stakeholders to review the draft guidance and provide their feedback, which will help ensure the guidance reflects current market practice while taking account of emerging trends in valuation.
Interested parties can submit feedback on the iConsult platform until 9 September 2026.
Members are eligible to receive two hours of informal continuing professional development (CPD) for completing the questionnaires and reviewing and providing feedback on the draft guidance.
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