A new database covering every single home in the UK has been launched by credit agency Experian in conjunction with property portal Rightmove.
National Property Data aims to give banks and other lenders, plus insurers and other financial institutions information about the financial circumstances of both existing and potential customers.
Jonathan Westley of Experian,said: “As the only dataset of its kind available that covers 100% 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.”
The database has 24 million properties on it and allows users to compare house prices and types in different places.
For instance, it shows that house prices in London are 40-70% higher than in some other regions, while flats constitute 45% of property stock in London against 12% elsewhere.
By providing accurate, up-to-date property valuations and details of property type, the data allows companies to use it in a number of ways, including pre-populating application forms and understanding an individual’s property assets.
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Comments
G:..Data capture, all to see ... I take it your defensive, self-congratulatory style email means only one thing.
David and Goliath spring to mind.
The fact that they can pull this all together just shows the data is already there for anyone to see, just need to know where to look, the data capture is not new.
And will sellers and buyers, tenants and landlords be given a choice to opt out of this nosey data gathering,selling your personal information exercise for commercial gain?.....Without addressing privacy concerns ? It s a stressful enough experience buying ,selling or moving home without adding on junk mail,email,SMS and everyone's favourite..... the cold calling brigade.
Perhaps Right Move and Experian should consider launching a counselling service .....Charges applied of course ...To help householders cope with this intrusion. Come on play nicely please ...a compulsory, opt out tick box choice for your customers to show theirs would be a nice thing to do ...
And the end result will be .......
wait for it .............
more junk mail but it will be better informed?
Let us applaud Rightmove for commercialising agents property data and adding to their already swollen coffers…..and the thanks agents will get……..a further hefty membership subscription hike come January…..bravo!
Jonathan Westley of Experian,said: “As the only dataset of its kind available that covers 100% of the privately-owned UK property market, the NPD will come as a welcome development."
So the Land Registry's Database, which is available on the internet, doesnt exist? Some data is also released en masse by the LR
Suspect someone has re-invented the wheel....