The issue of contaminated land has created a great deal of uncertainty for all those operating within the land and property industry. Valuers, in particular must come to terms with the issue, following guidance in the new Appraisal and Valuation Manual (Red Book), stating that: '...a failure to report potential contamination which would be apparent to a competent valuer in the course of the provision of the valuation service is considered to be a breach of his duty of care....' (GN 2.10.2)

This paper addresses this issue by outlining a set of 'best practice' approaches which valuers can use when offering advice or producing valuations or calculations of worth of contaminated land or property. It also considers the issue of 'stigma', the effect which this may have upon the value of contaminated land and property and possible methods by which objective assessments of stigma can be integrated into valuations and calculations of worth.

The paper draws primarily upon an extensive interview survey which was undertaken with UK property professionals. A further more quantitative focus, is provided by the responses which were received to hypothetical valuation questions (devised to incorporate contamination issues).