Experian realises true value of UK’s 24 million properties
National Property Database is the only dataset of its kind available
31 July, Nottingham, UK – Experian, the global information services company, today launched the National Property Database (NPD), a new service providing key details of each of the 24 million properties across England, Scotland, Wales and Northern Ireland, giving banking and financial services organisations a complete overview about the financial circumstances of new and existing customers.
The database uses a combination of estate agent information, surveyor data and land registry records to provide, amongst others, accurate, up-to-date property valuations and details of property type. The data can be used in a number of ways by banking and financial services organisations. This includes insurance companies using it to help pre-populate application forms, speeding up the quotation process and lenders using it to better understand an individual’s assets, helping to assess risk and manage customers according to their individual circumstances.
Experian’s latest NPD data reveals differentiations between both the valuation and types of housing in London compared to the rest of the UK. The data shows that London property prices are on average between 40 per cent and 70 per cent higher than elsewhere in the country, with mid-terraces valued 66 per cent higher than the rest of the UK. The data also shows that 45 per cent of all private properties in London are flats, whereas in the rest of the UK flats only make up 12 per cent of the housing stock.
Experian has developed the NPD in partnership with long-term partner RightMove, the UK’s largest property portal.
Jonathan Westley, Managing Director of Consumer Information Services for Experian UK&I commented: “As the only dataset of its kind available that covers 100 per cent of the privately-owned UK property market, the NPD will come as a welcome development. In today’s environment, it is increasingly important to have a complete picture about new and existing customers in order to make more informed decisions across the full customer lifecycle. Across the board, the comprehensive and accurate housing data accessed through the database gives clients a greater insight into their customer base and enables them to make more effective and better advised decisions to drive marketing and business performance.”
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Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2012 was US$4.5 billion. Experian employs approximately 17,000 people in 44 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com .