New data tool could revolutionise property decision-making
A new dashboard that compiles a range of sources for a snapshot of Australian housing could revolutionise the way investors seek out property hotspots, house valuation data and information on rent potential.
A joint effort from the Australian Institute of Health and Welfare and the Commonwealth Treasury has resulted in the dashboard’s development.
According to both parties, the dashboard brings together approximately 7 million data points from 20 key national housing data sets for the first time, and was primarily developed as an “invaluable resource for housing and homelessness data”.
The dashboard covers the entire housing spectrum, from housing market financial data through to regional population changes, it’s been reported.
Home ownership and household tenure, housing and rental affordability, Australian property values and sales across all states and territories are all data sets available on the dashboard.
Construction figures, building approvals, household finances, income levels, and property sale figures can also all be found.
Interactive displays enable interested persons to customise their own dashboards and dig deeper into the data sets, with each data tile offering a gateway to the data source, which contains detailed analysis, data quality information and further statistics.
According to Luke Howarth MP, the Assistant Minister for Community Housing, Homelessness and Community Services, “the government’s investment in establishing the Housing Data Dashboard will create a one-stop shop for all levels of government, the community housing sector and the private sector to work together to identify shortfalls and oversupply in order to address housing and homelessness across Australia”.
The MP commented that the new dashboard will allow for more transparency within the housing sector.