The most common method of valuing properties is the comparison method. Here, the property valuer looks at historic sold house price data for the local area, which is obtained from HM Land Registry. They also look at current house and retail/commercial business prices and use this to make a comparison with the property being valued. Commercial businesses such as restaurants and bars are valued using the profits method, which examines profits generated by the business. For vacant land or land subject to a change of use, the residual method, which looks at the gross development value minus the cost of development, is used.
