What is an AVM?
An AVM (Automated Valuation Model) calculates property valuations using a statistical model which computes large amounts of property data to generate an estimate of the market value for an individual property. A confidence level is also produced along with the valuation to indicate how accurate the valuation is.
Good data is critical to an AVM, which gives Rightmove a key advantage over competitors. Long term agreements with data partners and a rich collection of property sales descriptions give Rightmove a large, credible, database upon which to build the AVM.