Rating Cost Guide 2023
This is the eighth edition of the Valuation Office Agency’s Rating Cost Guide (the Guide).
Documents
Details
To access the Rating Cost Guide 2023, please open the above link and download the PDF to access the full functionality.
Rating Cost Guide 2023
This is the eighth edition of the Valuation Office Agency’s Rating Cost Guide (the Guide).
The Rating Cost Guide is used for valuations prepared on the contractor’s basis. The 2023 guide provides levels of costs at the valuation date of 1 April 2021.
Note: the seventh edition referred to as RCG 2021 was cancelled. It is not intended for use for other purposes such as the preparation of asset or reinstatement cost assessments (for insurance valuation purposes). While every effort has been made to ensure the accuracy of the information given in the Guide, the VOA does not accept any liability for loss of any kind resulting from the use made by any person of such information. The Guidance Notes explain the basis on which the information has been compiled including adjustments based on recognised industry published data and best practice. It is recommended that the Guidance Notes be read in full before a cost-based valuation is undertaken.
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 either by extrapolation/interpolation or by adjusting the cost for the item based on items of similar construction which may be 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 2021 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 2021.
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.
Photograph inclusions
Where possible, each entry in the Guide has a photograph representative of the item being described and for which a cost is being provided. Where we do not hold, or have not been able to source a photograph, the words ‘No photograph available’ have been used.
All photographs contained within the Guide are for identification only and are a ‘typical’ example of an item within the range under consideration.
The photographs have been taken in a working environment and do not represent the only manufacturers of the item.
Photographs of buildings are generally ‘typical’ of type whereas pictures of ‘beacon’ buildings are of the actual costed item, the details of which will be described within the body of that cost guide entry.
Terms and Conditions
Third-party material terms and conditions
The data contained in the location factors and/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 eve of the valuation date 1 April 2021.
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 VOA 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 (VOA) 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 (VOA) 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.gsi.gov.uk.
By loading/reading/using the Guide the user acknowledges, accepts and agrees to be bound by the terms and conditions of use.
Updates to this page
Last updated 21 December 2023 + show all updates
-
We have updated some data within the Rating Cost Guide 2023.
-
We have added the Welsh translations
-
The guidance note has been updated to include point 9.4
-
First published.