Benchmark data

430 properties tested against RICS Red Book valuations

We report the benchmark in full: median deviation was 6.2% from independently commissioned RICS reports for the same properties across Greater London and Manchester.

Overall results

Summary statistics

The benchmark ran from January to August 2025. Early-access lenders commissioned parallel RICS reports for the same addresses.

430

Properties benchmarked

6.2%

Median deviation vs RICS

76%

Within 10% of RICS figure

Benchmark methodology

For each property, Finvise received only the address and publicly available floor area data. We compared its output with a full RICS Red Book report independently commissioned for that property. The two processes did not share data.

The dataset covers office, retail, and light industrial properties in England. It is refreshed quarterly as lenders in the early-access programme provide new paired reports.

Results by property type

Results vary by sector. Office properties in dense submarkets with many comparables perform best.

City office (under 5,000 sqft) 4.8% median High comparable density, 127 properties
City office (5,000+ sqft) 7.1% median Lower transaction volume, 64 properties
High street retail (Central London) 6.4% median Strong comparable coverage, 89 properties
Suburban retail 8.9% median Thinner comparables, 52 properties
Light industrial (Greater Manchester) 5.6% median Active transaction market, 98 properties

Where precision is lower

We show lower-accuracy cases. Transparency in these results is required.

Deviation above 15%: 6% of benchmark

26 properties exceeded 15% deviation. Finvise had flagged limited comparable coverage or elevated risk in 22 cases. The remaining 4 were unexpected, and all involved development site elements not disclosed at submission. We are continuing work to identify mixed-use and development value components.

Known limitations

Current benchmark scope

The 430-property dataset covers England only and does not yet include Scotland, Wales, or Northern Ireland. Accuracy in regions with lower commercial transaction density is likely to be lower than the figures above. Additional benchmark rounds are planned for Edinburgh and Cardiff submarkets.

  • Complex tenure arrangements for portfolio properties are outside the current model scope
  • Agricultural and leisure properties are not yet supported
  • Recent planning permission for change of use may increase deviation
  • Updated quarterly, not in real time
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