Par8o has recently invested deep time and effort to form the above conclusion.
By combining data / database smarts, with modern AI technology, supply and demand questions that relate to property and real estate can now be answered in minutes.
In the absence of AI technology, answering such questions using traditional methods may have taken days, or even weeks.
For instance:
Par8o utilised AI to perform a weighted criteria analysis on every SA1 area in Australia and rank them from strongest to weakest in terms of customer demand for retirement villages.
The criteria searched and weighting logic applied can’t be disclosed given it remains Par8o IP, but the analysis was based around common elements that drive demand for retirement villages like age, accumulated wealth, real estate values, dwelling type, ownership of dwellings etc.
The map below represents some of the SA1 area’s (small urban pockets) where customer demand for retirement villages was identified as strong.
There are 61,845 SA1’s in Australia. Within minutes, Par8o, with the help of AI, had narrowed this down to 580 SA1’s, and ranked these from strongest to weakest, in terms of customer demand for retirement villages.
This can be taken a step further, by also overlaying existing retirement village supply, as identified on the map below for a section of South East Queensland.
AI can also be utilised to access supply data in an equally efficient manner.
If you are a data rich business, that wants to more efficiently leverage your data assets to better understand the supply and demand metrics that influence your business, please reach out to Par8o.
