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Housing: Valuation

Volume 464: debated on Friday 19 October 2007

To ask the Secretary of State for Communities and Local Government whether the Valuation Office Agency’s value significant codes of (a) ZL, (b) ZI and (c) ZH have a (i) positive and (ii) negative co-efficient applied to the variable in the multiple regression formula used in its automated valuation model. (155693)

Coefficients are not applied to a variable in the multiple regression formula. Multiple regression analysis determines whether an attribute is statistically significant in explaining an element of variation in the price achieved in a property transaction. Whether a positive or negative coefficient results for any attribute will vary (a) each time analysis of sales information is undertaken (b) from area to area and (c) between property types (e.g. flats and houses).