- Governments, financial institutions, and property developers are leveraging PointData's analytics.
- PropertyAITM represents ‘deep tech’ machine learning (AI) technologies that are automated.
- The highly efficient data pipeline enables the processing of an entire city in a matter of hours.
South Australian proptech company PointData, recently broke into the West Australian and Victorian markets as the company expands its data and ground-breaking AI technology across Australia, providing sophisticated and industry leading insights into residential property.
PropertyAI represents ‘deep tech’ machine learning (AI) technologies that are automated via a highly efficient data pipeline enabling the processing of an entire city in a matter of hours. This allows for daily (live) updates of several new classes of ‘Answers as a Service’ (i.e. no software requiring human manual input) at an address level including property and land valuations, land value uplift, development feasibility, profitability and residential market performance at a granular level.
Governments, leading financial institutions, property investors and developers are among those leveraging PointData’s revolutionary new property data and analytics technology to best extract value out of land and housing stock.
“Banks are now using this unique data for customer retention or acquisition processes, and to look at the risk of their back book.”
George Giannakodakis, CEO and founder of PointData
Mr Giannakodakis added that governments utilise PointData’s technology to look at the development potential of their assets and what they can do with them, and that leads to whether they should sell them to the market, redevelop etc.
“We produce data that actually enables government to make better choices in terms of what they might do to leverage the value of their assets and to build more social housing.”
said George Giannakodakis
He said: “We can also work out what happens to property and land values when you change the parent or existing property, whether you subdivide it, amalgamate it, rezone it, build a factory next to it, or a tram.
“Land does all of the heavy lifting when you subdivide. Building margins tend to be a far smaller proportion of overall profit. When you subdivide land, you increase the land value per square metre. That’s where the money is to be made.
The property investment space is all about disruption. “Investors and developers can de-risk a site early on without spending too much money and time on it” said Giannakodakis.
Technology overview
PointData has developed three-sided technology called “PropertyAI” that comprises:
- Machine learning AI automated valuation models, that learn to value cities including geographical features like distance to the beach, tree line streets and even zoning,
- A planning algorithm engine that automatically estimates the subdivision yield under the planning rules and types of development that can be approved, and
- A land economics model that predicts land values when a large block is subdivided into multiple smaller blocks or impacts by new infrastructure, parks and re-zoning.
PointData’s technology comes together to provide a new lens in which to consider residential property and how to value our most important asset class, Mr Giannakodakis said.
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