Written Question·Treasury·UIN 14949
Property: Valuation
Tabled: 19 November 2024
Answered: 27 November 2024
Question
John Glen
Conservative — Salisbury
To ask the Chancellor of the Exchequer, what type of regression model is used in the Automated Valuation Model of the Valuation Office Agency.
Answer
James MurrayThe Automated Valuation Model uses multiple regression with an advanced spatial modelling technique called Gaussian Markov Random Fields to better reflect the impact of location.