The Royal Institute of Chartered Surveyors (RICS) has launched a new survey report designed to focus on the needs of the consumer with clear, simple and easy-to-follow information about the condition of a property.

The HomeBuyer Report reflects changes in the home buying and selling process. RICS believes it is concise and user-friendly, assisting the purchaser in their decision by reporting on a property’s condition, value, need for repairs and replacements and what further advice is required before exchanging contracts.

Properties receive colour-coded condition ratings, based on the surveyor’s professional judgement on the state of repair of elements of the building. A green rating indicates no repairs are necessary, whilst red points to serious defects that require urgent attention, making the assessment more straightforward for the buyer.

Barry Hall, chairman of RICS’ survey and valuation group, said: “Buying a house can be extremely stressful and confusing, and many consumers are still puzzled by what reports they need before purchasing their new home. A valuation is not a survey as it does not provide the information a buyer needs on the condition of the property. RICS is determined to simplify this process for consumers and feels that this new report is an important step in ensuring that they are better informed about the property they are purchasing.”