Australia’s housing supply is failing to keep up with the demand for property across Australia. Homes have become unaffordable for large swathes of Australians, all while rental supply is at historic lows, resulting in drastic outcomes for tenants. Migration levels are due to escalate over the coming years as our skills shortage continues to climb on the back of the recent pandemic, while established building companies, that the nation desperately needs right now, are falling over.
It may seem straightforward to apply traditional financial assistance policies or planning tools to tackle the challenge, but these conventional approaches have their limitations. They are often restricted in their effectiveness because they depend on many other factors aligning perfectly to solve the problem. This whitepaper outlines the opportunity that stems from human ingenuity and technological advancement to help governments, private equity and non-for profits answer some of the big housing questions we currently face.
PointData was created on the back of over two decades advising governments using powerful and big data-based models. At the heart of this capability is a deep understanding of land economics, planning and development modeling, as well as dynamic property valuations. With a mission to solve systemic challenges, such as the current housing crisis, PointData has developed Australian-first, land economics based, AI technology to help policy makers and businesses make better and informed decisions.
We hope that this paper is a helpful contribution to the public discourse on how this new technology can help inform policy, particularly in the social and affordable housing domain, to provide tangible, actionable solutions to the growing housing supply crisis.