You need to know – What is the appraisal principle of progression?

YouNeedToKnowWeb500The appraisal principal of progression states that the value of a property is positively affected by association with a superior property of the same type

This principal tells us that the value of a low priced property will increase in value towards the value of more expensive properties in the same area

Along with the principal of regression (which has the opposite effect), the principal of progression leads to property prices moving towards a narrow band within the same area