Written Question·Treasury·UIN 24511

Property: Valuation

Tabled: 16 January 2025

Answered: 22 January 2025

Question

David Simmonds

Conservative — Ruislip, Northwood and Pinner

To ask the Chancellor of the Exchequer, pursuant to the Answer of 27 November 2024 to Question 14949 on Property: Valuation, who recommended the use of Gaussian Markov Random Fields in the Automated Valuation Model.

Answer

James Murray

The approach has been endorsed in reviews by both the Centre for Appraisal Research and Technology and the International Association of Assessing Officers.