Auto valuation systems as described by Eve are old news

From Graeme Winser

I was surprised to see in Frank Eve’s recent article in Mortgage Strategy (October 1) the existence and functionality of an automated valuation system still being treated as news.

Eve’s description of the Rightmove AVM with its three modes of quick, interactive and batch, is spookily similar to our own AVM at UKValuation. We have been offering these functions to the lending, valuation and broker market for three years.

In the AVM market, modelling techniques have moved on apace from the system described in Eve’s article. We will introduce a model with new performance levels soon. It’s this kind of commitment to developing the AVM model which will truly revolutionise this market.

Graeme Winser Chief executive UKValuation

By email