Rating Cost Guide 2026

Rating Cost Guide 2026

This is the ninth edition of the Valuation Office Rating Cost Guide (the guide).

The 2026 guide provides levels of costs at the Antecedent Valuation Date (AVD) of 1 April 2024.

Derived costs

The costs contained in the guide reflect the typical standard of specification described for each item.

In cases where the specification of the item differs from that in the guide, an appropriate Estimated Replacement Cost (ERC) figure can be derived. This can be done by extrapolation or interpolation, or by adjusting the cost based on items of similar construction found elsewhere in the guide.

All costs have been produced to form levels of ‘new’ cost for rating purposes at the Antecedent Valuation Date (AVD) of 1 April 2024 and are intended for use in assessing the ERC of the hereditament at stage 1 of a contractor’s basis valuation.

The ERC of plant and machinery items may be costed from an amalgamation of manufacturers’ actual ‘new’ costs and thereafter adjusted to the AVD 1 April 2024.

Costs of buildings and civil items have been built up from a variety of actual properties and industry-recognised price books.

Cost ‘beacons’ have been established where possible from multiple actual costs applicable to the hereditament or part of it.

Information about cost adjustments and considerations are described more fully in the body of the Guidance Notes and appendices.

Terms and conditions

Third-party material terms and conditions

The data contained in the location factors or related indices are based on information provided by the Royal Institution of Chartered Surveyors (RICS) Building Cost Information Service (BCIS) and reflect that available as at the valuation date 1 April 2024.

In using the guide, the user understands, accepts and agrees to be bound by the following legally binding terms relating to third party material included in the guide (BCIS indices and location factors):

• the BCIS indices and location factors included as part of the guide are used by the Valuation Office under licence from the Licensor (BCIS/RICS)
• sub-licensing of the BCIS indices and location factors (as part of the guide or otherwise) to any other person is prohibited
• BCIS indices and location factors are provided on an ‘as is’ basis and the Licensor (BCIS/RICS) will not be liable for any use of BCIS indices and location factors, and both the Licensor (BCIS/RICS) and Licensee (Valuation Office) do not warrant or enter any term to the effect that data will be entirely free from defects or that its operation will be entirely error free
• the data is partly based on market judgements and the Licensee (Valuation Office) reserves the right to provide details of the User to the Licensor (BCIS/RICS)

Third party copyright

The data provided by BCIS are solely the property of BCIS/RICS and should not be sub-licensed or reproduced without their express permission. Any person wishing to reproduce any of the tables contained herein, in any format, should first seek permission from the RICS directly by contacting licensing@rics.org.

Crown copyright

You may use and re-use information featured in the guide (not including logos or third-party material) free of charge in any format or medium under the terms of the Open Government Licence. Any enquiries regarding the use and re-use of Crown copyright material should be emailed to the National Archives at psi@nationalarchives.gov.uk.

By loading, reading or using the guide the user acknowledges, accepts and agrees to be bound by the terms and conditions of use.