AI in PropTech: The Sky is The Limit

The common practice in valuing residential properties is to find the prices of similar properties sold recently. Too recent could mean there may be none (or insufficient), while going back too far isn’t particularly a good idea.

So how did I address these challenges in AccuVal?

By applying the appropriate inflation to historical transactions, we are effectively fast-forwarding them to the current time. For example, if a property was sold in 2017 for £250K, all things being equal, it would be as if it was sold for about 269K in 2021.

What’s left is to predict the short-term changes (30 days) to property prices and apply that to the property being valued today, so by the time the property is listed and viewed, it’s valuation would be as current as possible.

AccuVal is a free valuation web app that uses pure Machine Learning to value residential properties in England and Wales, including properties that don’t yet exist or recently changed.

By Jaafar

Founder of AccuVal