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Property: Valuation

Asked by John GlenConservativeTreasuryTabled Answered 27 November 2024UIN 14949

The question

To ask the Chancellor of the Exchequer, what type of regression model is used in the Automated Valuation Model of the Valuation Office Agency.

Answered by James Murray

The Automated Valuation Model uses multiple regression with an advanced spatial modelling technique called Gaussian Markov Random Fields to better reflect the impact of location.

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