The Court of Appeal last week granted permission for the Upper Tribunal’s decision in Mundy to be appealed.
So if the appeal is successful and as a result there is a complete rehearing on the vexed issue of relativity – will the table turn back into the tenants’ favour?
Only time will tell but in the meantime it can only be right that the lower First-tier Tribunal stay all hearings in respect of relativity until the issue is decided… which can only add to the log jam of reaching a settlement; or perhaps landlords valuers will relent somewhat from their high handed view of lower differentials applying across the board to get a deal done and keep ‘the cogs turning.’
Funny how before all of this blew up – valuers for both sides just got on and reached on the whole peaceful settlements generally above the Gerald Eve 1996 curve based on the average of the RICS Graphs of Relativity. Even if there were faults behind the other graphs – it worked to bring about a market for valuers to position themselves to move to a settlement!
Oh – and by the way there has been no further missive from Gerald Eve as to the promised explanation behind their sneaked out 2016 curve promised early January referred to in last month’s blog. I guess there won’t be now given the C of A appeal ahead!