But although most of the valuer’s problems involve consideration of present MV, there are often other factors in the problem to which the valuer’s attention must also be directed.
It is often necessary to have regard to future trends of value, to consider if prices at which interests in properties have been sold are reasonable or likely to be maintained, and to examine the possibilities of changes in rental value. By way of a simple example, the valuation of a short lease will change over a comparatively short time because of the wasting nature of the asset being valued. However, valuers can
also have regard to their fears that the market is unreasonably high due to a shortage of supply which might be amended in the short term, or unreasonably low due to the absence of buyers caused by a particular event, for example the effect of the credit crunch in 2008.