The European AVM Alliance (EAA) and the European Mortgage Foundation (EMF) today have published a joint paper to provide for the first time a detailed overview of the key applications and features of Automated Valuation Models (AVMs) and the state of the industry in Europe.

The European AVM Alliance (EAA) and the European Mortgage Foundation (EMF) today have published a joint paper to provide for the first time a detailed overview of the key applications and features of Automated Valuation Models (AVMs) and the state of the industry in Europe.

In particular the paper demonstrates the various purposes for which AVMs are used across different EU and EFTA Member states, including primarily portfolio valuations; but also the determination of property vaules at mortgage origination, e.g. for re-mortgaging and quality control – depending on the jurisdiction.

In addition, the paper discusses the shift in the use of AVMs since 2008 as well as the existing rules, guidance and standards on AVM use in the different countries.

‘In recent years the use of Automated Valuation Models (AVMs) in the valuation process of residential property has emerged in an ever increasing number of European countries. We are delighted that together with the European Mortgage Foundation (EMF) we have successfully achieved to map how AVMs are used across various jurisdictions in Europe, to show how AVMs are defined and characterised, and to demonstrate how these tools fit and sit alongside other valuation techniques’, says Dr Andrea Biguzzi, Secretary of the EAA, on the occasion of the publication.

The paper can be downloaded here.