Big data boosts property sector
| SPONSORED POST |
The availability of big data, coupled with high-resolution aerial photography, has allowed a new dimension of innovation to emerge in the Australian property sector.
Australian-developed aerial imagery and data visualisation platform nearmap is democratising data for the real estate sector by making layers of highly targeted data available and accessible in an easy-to-use interface. nearmap takes raw data about real estate properties – from pricing history, elevation and amenities to social and demographic information – and overlays it on up-to-date high-resolution imagery.
“nearmap allows us to translate raw data into contextual and valuable information for the buyer or developer who can use it for actionable insights,” said Paul Peterson, Senior Vice President – Product and Engineering for nearmap.
The company leverages information from a host of data sources including census information, historic sale listings, government and council data to create tools that deliver a detailed understanding about a given property. This analysis assists developers and buyers in seeing trends that are shaping an area.
This technology, driven by big data, is also helping developers and investors look at community planning more effectively. The result is new ways of doing business that are smarter, more cost-effective, informative, and more visual and shareable.
The nearmap HotSpots tool combines layers of geographic property data – median sales prices, vacancy rates and rental yields, socioeconomic insights and undesirable living demographics such as crime rates and noise pollution – to ascertain desirable and profitable property hot spots anywhere in Australia.
nearmap has recently delivered two new products to the property market. One is a property pricing tool called ART (Agent Reporting Tool) that enables real estate agents to produce instant customised reports on any property. The second is an industry-first property mapping tool that shares insights across all Australian properties. These visual analytics tools improve investment prospecting and enable investors to cross-check unreliable property data such as property boundaries and property areas.
Peterson says that nearmap is launching more targeted products, including tools that illustrate flood risk, elevation data, shadow analysis and line of sight, as the market demands it.
For more information about nearmap, go to au.nearmap.com/property