Property valuations determined as part of the annual General Valuation aim to reflect market value and are based on how the market has performed in the prior calendar year. The Date of Valuation is 1 January and valuations come into effect on 1 July each year.

There are approximately 914,000 records, with Site and Capital Values for each resulting in over 1.85 million assessments to be undertaken every year.

Mass appraisal is the primary valuation methodology which identifies submarket groups which are then analysed using sales evidence to derive an annual index. Indexation occurs across submarket groups and is not applied to specific properties, rather the submarket group as a whole.