A recent webinar poll conducted by Countrywide Surveying Services (CSS) found that 88% of property professionals believe the latest Royal Institution of Chartered Surveyors (RICS) guidance on cladding has positively impacted the industry. Furthermore, 82% of respondents were familiar with the guidance before the webinar, while 18% had no prior knowledge.

RICS released updated guidance on valuing multi-storey buildings in December 2022, aiming to bring clarity and confidence to the mortgage market. A separate poll during the webinar revealed that 42% of professionals observed a resurgence in the flat market, while 58% saw no change.

Over 400 lenders, brokers, surveyors, and other property professionals attended the CSS webinar, which addressed the RICS guidance and its implications for lending and valuing flats affected by potentially defective cladding. The panel included representatives from RICS, Connells Survey and Valuation, the Department for Levelling Up, Housing & Communities, and Lloyds Banking Group.

John Baguley, Director of Technical, Risk and Compliance at CSS, emphasised the need for continued industry efforts to raise awareness of any changes and their impact on properties affected by the cladding issue.

“While it’s great to see some positive solutions emerge for everyone connected to this building safety nightmare, we – as an industry – need to continue pushing hard to ensure that anyone affected by this issue is fully aware of any current and future changes and the impact on the market for such properties.”