This book takes a new approach to property valuation by exploring the pricing mechanism in relation to the changing economic context.The authors develop the contents to meet the current elementary curriculum for valuations used in most UK universities offering RICS recognised property courses. It is accessible to students tackling the subject for the first time but also lays foundations across a wide range of ideas and approaches to valuation, so that it can be used in subsequent years. The education of the real estate professional is changing and aligning itself more closely with the world of business.This book takes a new approach to property appraisal by exploring the pricing mechanism in this changing context. It:- develops the notion of the pricing mechanism in relation to property- covers practical issues of comparison and the real problems in applying valuation theory- explores calculations - including social and environmental worth - ignored in other textsAs real estate...