Today, on July 31st, Experian, UK credit agency, announced the launch of the first ever property database.
It covers all residential properties across the UK (in England, Wales, Scotland and Northern Ireland). The aim of the database is to help banks, insurance companies and other financial institutions get comprehensive information about the financial circumstances of their customers, both new and existing.
With the help of the database, it becomes possible to compare house prices across various towns. For instance, it shows that house prices in London are 40-70% higher than in other regions. Also, flats in London constitute 45% of property stock, whereas in other regions this figure stands at 12%.
