How the regions fared in the RV revaluation shake up

Some interesting stats are coming out of the VOA at the moment, with so much attention on the Revaluation and its implications for businesses and retailers.

It’s most recent release looks at the total Rateable Value for England after revaluation which has increased by 9.6 per cent. In contrast, Wales saw its total RV fall by 2.9 per cent.

London saw a 23.7 per cent increase in RV after revaluation, the largest increase with the North East registering a 0.9 per cent fall – the only region to do so.

The North West stayed neutral with a 0% change on the RV after revaluation. This rather uninteresting figure is made up of the various sectors which did show much bigger swings but in the end cancelled each other out for the overall 0% change.

For example, retail, office and industry all saw sharp decreases in their RVs – between 3.5 and 5.4 per cent. These combined, however, only added up to the rest of the businesses across the region which jointly accounted for a rise of 10.7%.

Nationally, London has the largest spread of RV in the 2017 Rating Lists, especially in the Office Sector which contributes 14.4 per cent of the total RV in England.

The top 10.9 per cent of rateable properties in England also contribute a whopping 72.3 per cent of RV in the 2017 Rating Lists.

It is worth having a look here  revised-welsh-tr-consultation-document revaluation_summary-2revaluation_summary to see the regional distribution of rateable properties and RV in England for an overview of the new RV landscape as from next April.