Glossary definition
Comparable Evidence
Recent transaction data for similar properties used by RICS valuers to support their opinion of market value or gross development value. Comparables should ideally be within the same postcode district, of similar size and specification, and completed within the last six months.
Definition
Recent transaction data for similar properties used by RICS valuers to support their opinion of market value or gross development value. Comparables should ideally be within the same postcode district, of similar size and specification, and completed within the last six months. The quality and quantity of comparable evidence directly affects a lender's confidence in the GDV and therefore the maximum facility they will offer.
See also
Closely related terms.
Red Book Valuation
A formal property valuation prepared in accordance with the RICS Valuation Global Standards, known as the Red Book.
Gross Development Value
The total market value of a development upon completion, encompassing all units and any commercial elements.
Valuation
A professional assessment of a property's market value, carried out by a qualified surveyor for lending, investment, or transactional purposes.
Absorption Rate
The rate at which available homes or units are sold or let in a given market over a specific period, usually expressed as units per month.
Further reading
Guides that touch this term.
Guide
RICS Red Book Valuations for Development: What Lenders Require
A comprehensive guide to RICS Red Book valuations in development finance, covering what lenders require, how valuations are structured, and how to ensure your scheme is accurately assessed.
11 min read readReadGuide
How Does Development Finance Work? A Complete Guide for UK Developers
A ground-up guide to how development finance is structured in the UK, covering loan mechanics, drawdown schedules, monitoring surveyors, and what lenders look for in your application.
5 min read readReadGuide
Development Finance Application Checklist: Documents You Need
A comprehensive checklist covering every document lenders require for a development finance application, from development appraisals to contractor tenders and planning evidence.
11 min read readRead
Where it shows up
Finance products using this term.
Ready to apply
Knowing the term is one thing.
Getting it on your term sheet is ours.
Send us the outline. We come back with indicative pricing from the right lenders inside a working day.