A nonstandard transaction is a property sale or transfer that does not represent a standard property purchase. Category B includes transfers under a power of sale and repossessions, often recorded at nominal prices. section 10.4.1
Recognizing nominal sale prices
When investigating properties sold for less than £1,000, inspect the transaction category as well as the address. If the records are category B, the low prices may reflect nonstandard transfers rather than data errors. section 10.4.1
Treat nonstandard transactions as an analytical judgment rather than automatically removing them:
- Compare category A and B proportions among low-valued properties to test whether category B explains the outliers. section 10.4.1
- Retain or exclude category B according to the application: residential buyers may or may not want repossession data. section 10.4.1
