FAQs

Property Valuation

What is an Automated Valuation?

An automated valuation is a property valuation created by a computer model. This valuation is used to estimate the current market value of a home based upon various analytical methodologies and data elements e.g. comparable sales prices, home characteristics, historical property price appreciation etc.

What information is contained in the Hometrack Online Valuation Report?

The principle outputs are the estimate of current market value, an indication of the Confidence Level or probable accuracy of the result and the estimated value range. In addition to these key outputs the report contains various other relevant property market information.

Can Hometrack value every house?

The Hometrack Valuation System can value any property in England, Wales & Scotland where the system successfully matches the postcode and house number or name.

How accurate is the Hometrack Valuation System?

The accuracy of the valuation will vary depending on a wide range of factors; principally how similar the subject property is to properties in the surrounding area and how much turnover there has been in the area. The expected accuracy of the valuation is reflected in the Confidence Level and the corresponding value range. The System is unlikely to provide a very accurate valuation for properties that are unusual, much larger than average or with particular distinctive features.

Which professionals use the Hometrack Valuation System?

The Hometrack Valuation System™ is based upon the Realtime Valuation Model™ which is the market leading online valuation service used by High Street Banks and Mortgage Lenders. It is one of the most advanced Automated Valuation Models in the world. Currently lenders representing more than 70% of the UK Mortgage Market utilise the Realtime Valuation Model™ for both mortgage origination and further advance.

Are there any alternatives to the Hometrack Online Valuation Report?

No, at present Hometrack are the only providers of online automated valuation services to homeowners and property investors.