In a strong relationship spanning several years, AURIN and Australian Property Monitors (APM) have collaborated to deliver high-quality property data to Australia’s academic researchers.
AURIN’s APM Point-Level Data is enabling important research in various metropolitan and rural municipalities across the nation. Some of the pressing housing issues being studied include economic impact, disaster impact (bushfires, COVID-19, etc.), affordability, education, immigration, and infrastructure. Various methods are being utilised to interrogate the data, such as applying GIS spatial analytics, machine learning and other types of data modelling. These research projects hope to serve Australian communities by supporting policy and decision-making processes.
Research Highlights using APM Point-Level Data
Impact of School Zones on home prices and rent
Researchers in NSW are using AURIN-enabled access to APM Point-Level Data to investigate the impact of school zones on home prices and rents across the State.
Using historical school zone data and additional data on school quality, the project seeks to investigate the impact of different school zones on home prices and rents. It will merge the various housing, school quality and school zone data sets, then look at the extent to which prices vary across school zone borders in response to different achievement levels in the relevant schools.
Internationally there is a large body of research into this topic, this project seeks to explore this topic in an Australian context.
Machine Learning and International Collaboration
Local and International research collaborators are using AURIN’s APM Point-Level Data to better understand housing market dynamics through the combination of high-dimensional and non-traditional economic data, plus the use of machine learning techniques.
The researchers propose a big-data-based method for understanding housing market dynamics. Instead of following the traditional top-down approach to model the housing market with macroeconomic variables, this study aims to model the housing market dynamics by a bottom-up approach. By tracing individual properties in various suburban areas and aggregating their property value at the suburban/provincial level, the researchers will acquire a gauge of property market movement more succinctly and accurately.
AURIN-enabled access to APM Point-Level Data provides data resolution that will help take the project to a new level. This new approach of housing market study has the potential to serve as a finer-grained guiding tool to facilitate decision making for home buyers, investors, researchers, and policymakers.
Real Estate in Long Term Household Portfolios
Households face a long-term portfolio optimisation problem. In the acquisition of assets, be they financial or real, households are seeking to invest in such a way that maximises their utility from consumption in the present and in all future periods while considering the relevant risk and their own dynamic risk aversion.
Traditionally such problems have considered stocks, bonds, cash and other financial instruments as the primary assets used to construct a household portfolio. This approach, however, ignores the largest asset in household portfolios, namely, real estate. In Australia, most households live in their own home or intend to do so in the future. Despite this, there has been little work done to investigate how a family’s home contributes to the risk and return of the portfolio that they own. The inclusion of real estate into household portfolios introduces a constraint into the optimisation problem.
Using AURIN-enabled access to APM Point-Level Data the researcher intends to construct an index of housing returns for the general case, as well as for certain markets segmented by housing type, number of bedrooms, and different statistical areas. Using a Bayesian framework, portfolio optimisation for various long-term time horizons will be constructed.
Access APM Point-Level Data
APM Point-Level Data:
- Provides the point location for properties advertised for rent, for sale and sold. The data is served for the most current five-year period for each Australian State & Territory.
- Is enriched with attributes that set out the property type, property area, number of bedrooms and baths, listing price, and additional features that the property has.
APM Point-Level Data is available by application through AURIN’s Restricted Datasets program. Researchers can choose the most recently available 5-year period for one State or Territory.
We look forward to reporting the outcomes of these exciting research projects, with their potential to improve policy making and outcomes for communities across Australia, and future research that APM Point-Level Data will generate.