Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Valuation Office Agency's contract ContractFinder procurement reference VOA/2023/033, what the budget is for the development of the Automated Valuation Model, and at what stage in its development is the current model.

The Valuation Office Agency (VOA) has developed an Automated Valuation Model in-house as part of its preparations for the proposed Council Tax Revaluation in Wales. I would observe that this is a policy proposed by the Labour Welsh Government, and does not represent the policy position of the UK Government in England.

The let contract relates to an independent audit of the VOA’s Automated Valuation Model, undertaken to ensure it meets expected international standards.

VOA used its own data, and already available data from third parties, for the model development, at no additional cost. To assist with the development process, the VOA let a short-term advisory contract with the Center for Appraisal Research and Technology (CART), budgeted at $6,000.