Auction discount to valuation
auction_discountHow far below our valuation UK auction actually clears — the one auction
number nobody else can produce.
An achieved hammer price against an automated valuation of the SAME
property. EIG covers 530+ auctioneers to our six and sells API data, but
runs no AVM; we have less auction data and the valuation. The join is the
product, not the feed.
Nationally over the last 24 months the median lot cleared at about 0.66 of
our estimate — a ~34% discount — and 87% of lots sold below it. The spread
by district is large and real: PR2 clears near 47% below, N1 under 8%.
READ `by_year` BEFORE QUOTING THE HEADLINE, and read `meta.sufficient`.
Every AVM in the warehouse shares ONE snapshot date, so this ratio is an
auction discount only where the sale and the valuation are close in time.
The series sits near 0.65 from 2021 and falls to ~0.44 in 2016-2019 — that
fall is house-price growth sitting between the hammer and the estimate, not
a deeper discount. Widening `months` past about 60 measures the market, not
the auction.
`min_lots` suppresses the headline where too few lots match; a median over
three sales is not a market rate, and `meta.sufficient` says which you got.
Geography is by POSTCODE, not area_id — auction lots carry a postcode.
UK only. Free.
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| months | No | ||
| min_lots | No | ||
| is_commercial | No | ||
| postcode_area | No | ||
| postcode_district | No |
Output Schema
| Name | Required | Description | Default |
|---|---|---|---|
No arguments | |||