Gov't likely to automate valuations updates - E.surv

Unlike the last time bands were calculated, the government is unlikely to want to bear the cost of hiring the required number of surveyors to do the valuations manually in the current property market. ”It could be done, but at a price,” Sexton says. Instead, the government is likely to rely on AVM solutions from either “indigenous” providers or those active in markets such as the US, where AVM is more prevalent. The problem is AVM valuations are subject to certain pre-determined assumptions made by those constructing the modeling, which means there is greater risk of home-owners ha...