I AM NOT A FINANCIAL ADVISOR BUT ...

Firstly ignore how much you have spent on the property. If you manage to break even, then you are doing well, however you are up against a system that is weighted against you.

Your property is only worth what someone is willing to pay for it and in this climate, it is a buyer's market. Most properties have fallen in value or just about kept their 2006/7 values. To drop £30k is a lot, but not as harsh as some people and you don't mention what your current commitment is in terms of mortgage value against original price.

If you believe your price to be correct, you need to prove it and if nothing has sold that is directly comparable, you have a problem. Speak to estate agents and ask them for an assessment. If they agree with the valuer, then I am sorry but you have little chance of reversing the decision.

SHARK!