Housing: Valuation

Treasury written question – answered am ar 26 Mawrth 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Paul Howell Paul Howell Ceidwadwyr, Sedgefield

To ask the Chancellor of the exchequer, pursuant to the Answer of 12 March 2024 to Question 16860 on Housing: Valuation, which already available data from third parties was used for the model development.

Photo of Paul Howell Paul Howell Ceidwadwyr, Sedgefield

To ask the Chancellor of the exchequer, pursuant to the Answer of 12 March 2024 to Question 16860,on Housing: Valuation, whether the Valuation Office Agency plans to collect additional (a) dwelling house codes and (b) value significant codes in addition to those used in England for the model.

Photo of Paul Howell Paul Howell Ceidwadwyr, Sedgefield

To ask the Chancellor of the exchequer, pursuant to the Answer of 12 March 2024 to Question 16860 on Housing: Valuation, how many value estimates have been produced using the Valuation Office Agency's automated valuation model.

Photo of Nigel Huddleston Nigel Huddleston The Financial Secretary to the Treasury

The Welsh Government has commissioned the Valuation Office Agency (VOA) to carry out a revaluation of all domestic property in Wales. To facilitate this, the VOA has built an Automated Valuation Model which has produced values for 1.46 million properties.

The following external datasets were used:

  • Land Registry Price Paid data to supplement VOA sales data
  • Land Registry Title Polygons and Ordnance Survey National Geographic Database for plot sizes for houses
  • Ordnance Survey Master Map for building footprints for houses
  • House Price Index to adjust sales in time
  • National Statistics Postcode Lookup (NSPL) to incorporate Census Geography
  • Ordnance Survey AddressBase Premium for latest property coordinate data
  • Energy Performance Certificates

Additionally, as part of model development, sales verification was undertaken. VOA staff used a range of available data, such as aerial and street view photography, sales particulars, EPC certificates and Local Authority Planning websites to verify the usefulness of the sale.

The VOA has not collected additional codes over and above those already used within England and Wales.

I would observe that this is a policy proposed by the Labour Welsh Government, and does not represent the policy position of the UK Government in England.

Does this answer the above question?

Yes3 people think so

No2 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.

Chancellor of the Exchequer

The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.

The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.

The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.