A valve assembly (10) for dispensing a flowable product from a pressurised container (200), the valve assembly comprises a resilient sleeve member (16) comprising a lower fixing portion (18), an intermediate deformable portion (20) and an upper sealing portion (22), a valve stem (28) extending within the resilient sleeve member (16) and fixed to the lower fixing portion (18) of the resilient sleeve member (16), and an actuator (46) mounted on the upper sealing portion (22) of the resilient sleeve member (16). The valve stem (28) includes a hollow cylindrical body (38), an end cap (32) closing an upper end of the hollow cylindrical body (38), and one or more apertures (34) arranged around the circumference of the hollow cylindrical body (38) adjacent to the end cap (32). The apertures (34) are covered by the upper sealing portion (22) of the resilient sleeve member (16) in a closed position of the valve assembly (10). The actuator (46) includes a first actuator bearing surface (54) adapted to engage with a corresponding bearing surface (56) on the upper sealing portion (22) of the resilient sleeve member (16), such that movement of the actuator (46) downwards opens the apertures (34) and resilient movement upwards recloses the apertures (34) to form a seal. This means that after use any product remaining within the valve stem (28) is below the location of the seal and is not in communication with the atmosphere, so it will not deteriorate.