Glossary

This glossary defines the principal terms used throughout the Property Valuation API documentation.

Automated valuation

An estimate produced without a manual valuer reviewing the specific request.

Automated market gate

The policy that determines whether a property is sufficiently standard and supported by evidence for an automated point estimate. Failed eligibility produces a manual referral.

Batch

Multiple valuation rows submitted in one synchronous HTTP request. A batch can partially succeed.

Build status

Whether the subject is represented as existing stock or a new build. Dedicated development endpoints force new-build status.

Comparable

A prior transaction disclosed as supporting evidence. The displayed list is not necessarily the complete evidence set used to produce the valuation.

Confidence

An assessment of the strength of the evidence supporting a valuation, returned as a score and band. It is not the probability that the estimate is correct.

An as-complete estimate for a proposed or unregistered property without an existing UPRN or inherited subject record. It uses site coordinates and assumes new-build status, the newest construction-age band and typical modern fabric.

Idempotency key

A customer-defined identifier for a logical asynchronous job submission. Reusing the key with the same body returns the existing job; reusing it with a different body is a conflict. Follow the job retention and expiry rules in Batch and Asynchronous Jobs.

Identity source

How the subject was identified: verified_identity_store, address_resolved, development_mode or unresolved. Supplying a UPRN does not establish the source; the API must verify its relationship to the address.

Market value

The central value the system is designed to estimate for the stated property and date. It is not necessarily identical to one achieved transaction price.

Nominal coverage

The intended proportion of eligible observed outcomes falling inside their returned prediction ranges across an evaluation population. It is not the proportion of displayed comparables, or a property-specific probability.

Prediction interval

The lower and upper bounds returned with a valuation estimate.

Release ID

The immutable identifier of the approved valuation release that produced a result.

Request Reference

The optional customer-provided request_reference used to correlate a valuation row with the customer's system. It is not a UPRN, server-generated valuation ID, transaction ID or synchronous idempotency guarantee.

Stored property data

Selected property attributes held by Valtaic that may fill supported blank customer fields when use_stored_data=true.

Title tenure

The legal interest being valued: freehold or leasehold. This differs from occupancy status.

UPRN

Unique Property Reference Number. It identifies a registered addressable property and should be transmitted as a digit string.

Valuation unit

One property row admitted and counted against a plan. A batch of 500 properties contains 500 valuation units.