What is an automated property valuation and how does it work?

An automated property valuation is a statistical model used to estimate the value and rental income of a property without the need for a physical appraisal. 

Upon request the model provides a market property value and a market rental income figure, within seconds, using property related information provided by Landbay, as well as market conditions.  

Landbay have a set of confidence score thresholds and minimum requirements that the figures must pass. If the results do not meet the thresholds, the automated property valuation will fail. 

This differs from a physical valuation where a valuer enters the property, assesses it and produces a report which is sent to our Underwriting team.