JLL’s head of UK residential valuation Richard Petty has announced his intention to retire from the business on 31 March 2026.
Upon his retirement, Lauren Hunt – currently deputy head of JLL’s UK residential valuation business – will lead the team of 120 colleagues located across eight UK offices. Marc Burns, who was appointed head of UK affordable housing at JLL in July 2025, will report into Hunt.
Petty (pictured) has been a leading figure and highly respected adviser to the social and affordable housing sector for the past three decades and has led the consultancy’s affordable housing business for 29 years.
For the past 12 years, he has held a dual role as head of UK residential valuation, with affordable housing forming the largest part of the business.
Petty said: “Back in 1996, as a commercial property surveyor, I agreed to give social housing a try for six months, to see if I liked it – it turned out I loved it, especially the social purpose of the sector and the openness and collaboration between providers, lenders and other advisers. Today, we have a fantastic team of colleagues, many of whom are longstanding, up to 27 years with several who’ve been with us for more than 20 years – it’s been a pleasure and a great privilege to work with them and many others.
“I know that I will be leaving the business in very safe hands. Over the last five months, Lauren has been involved in everything that I have been doing and is now perfectly placed to take over. I have full confidence Marc will take the affordable housing business into its next chapter, combining his focus on tech and data with 20 years of experience in the team, where he is universally respected by colleagues and clients.”
Andrew Frost, head of UK capital markets at JLL, added: “Richard became involved in social housing in the early days of professional valuation advice and grew to become one of the leading advisers. He has been a generous mentor and counsel to many, both colleagues and clients alike, and we are enormously grateful to him for setting up such a strong succession. I am looking forward to seeing Lauren and Marc similarly thrive in their new roles.”
Hunt said: “Richard’s contribution to affordable housing over the last 30 years has been huge – he and his team have valued the security that underpins tens of billions of debt, that enables housing associations to invest in new and existing homes, In addition, he has built and led a very successful residential valuation team at JLL, which I’m honoured to be taking over next year. I know that I’ve got big shoes to fill, but I will have a fantastic team around me and we are looking forward to continuing to serve our clients and growing the business.”
Petty intends to remain involved in the social housing sector through his board roles at Watford Community Housing Trust and The Riverside Group.
