20 September 2019
³Ô¹ÏÍøÕ¾buyers will have access to an app to help them make more informed decisions, based on up-to-date property information, thanks to a cooperative research project involving Liverpool City Council.
UNSW Professor of Urban Science Chris Pettit is leading the Value Australia project, which received almost $3 million in funding from the Federal Government through the Cooperative Research Centres Projects Grants program.
“There will be a public-facing version of the software using a map interface to show property values around where people live, which will take into account land values and the amenity of an area,” Prof Pettit said.
The project will draw together data from private and public sources and use advanced analytics to provide a rapid assessment of property values.
While the software will have uses for consumers, its value for Council lies in its potential to inform decisions about the future of Liverpool and its suburbs.
“It will assist in making data-driven decisions, such as being able to explore rezoning options, determining the economic benefits of a development proposal, or even the location of important infrastructure, like new metro or light rail stations,” Prof Pettit said.
Liverpool Mayor Wendy Waller said this project was the latest in a series of collaborations Council had engaged in to build a better, more innovative future for Liverpool.
“We need to find the best ways to harness our unprecedented growth to the benefit of the community in a sustainable way and for this we need to open our minds to different solutions from a variety of sources,” Mayor Waller said
“Recent collaborations include a joint research partnership with Curtin University on trackless trams, our Smart Pedestrian project with the University of Wollongong, which counts pedestrians and vehicles around our CBD to better inform planning decisions and City Possible with Mastercard, working on encouraging Liverpool’s night time economy.
“We have to make sure our organisation builds the skills and systems to create and deliver new and better ways of responding to community needs.”
The Value Australia team is drawn from a mix of fields, including research (FrontierSI, UNSW), industry (Commonwealth Bank of Australia, Omnilink), State Government (NSW Office of Valuer General) and local council (Liverpool City Council).
