RICS rules out material uncertainty across UK property sector despite lockdown

Advises a 'general lifting' of material valuation uncertainty

The Royal Institution of Chartered Surveyors (RICS) has confirmed it will not be recommending the reimplementation of material uncertainty clauses (MUC), despite renewed national lockdowns.

Following a meeting of the RICS Material Valuation Uncertainty Leaders Forum yesterday (5 January), the body concluded that new restrictions did not affect the ability of independent valuers to ascribe accurate valuation to property assets. Investors eye exit door as property funds prepare to reopen As such, it extended its recommendation from 9 September 2020 to remove the MUC from "all UK real estate, excluding some assets valued with reference to trading potential", which mostly includes leisure and hospitality assets. In a statement, the body clarified that while its recommenda...