A majority 52% of lenders, brokers and surveyors have suggested that down valuations are either “very or quite prevalent” in 2022, research from Countrywide Surveying Services (CSS) has indicated.

More than three in 10 of respondents (31%) to the webinar poll highlighted that there was “no change” from before.

The CSS findings also revealed that 14% had suggested that they were “not very prevalent” while 3% believe that down valuations hardly ever happen.

Responses to the research emerged at Countrywide Surveying Services’ webinar series in a session centred around down valuations. A total of 400 people engaged in the session with the audience consisting of lenders, brokers, surveyors and other property professionals.

Countrywide managing director, Matthew Cumber, said the results had demonstrated “wide ranging opinions”.

“It was encouraging to see that such a small percentage of respondents deemed down valuations to be ‘very prevalent’ in 2022,” Cumber said.

“From a personal perspective, I believe that the term ‘down valuation’ is something of a misnomer in the current mortgage market. What this really means is that there is a simple difference in opinion on what a particular asset is worth, in this case a property.

“The overriding, and reassuring, point that emerged throughout this discussion is a clear need for all links in the mortgage chain to be more closely aligned and offer greater transparency in the way we look and advise on property. And this is something that we, as an industry, must identify, understand and overcome.”

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