Services

The Residential Development Algorithm (RDA) tool will provide objective and quality property intelligence; not just ‘automated valuations’ on unimproved properties. The RDA tool filters data and maps outliers to increase investment certainty. A number of products and services have been developed by ipData to meet the needs of the wide range of data users.

Property Development Reports

Property development or ‘feasibility’ reports are primarily for real estate agents, home owners, investors, developers and financial advisors. A property development report, presents relevant input and output information about the development potential of a property, options and dwelling types as well as the planning rules that apply (cross referenced to Development Plans/Schemes). Reports provide an indication of the property attributes (area, zone), purchase details (cost range), development options including market optimised building size, typical development costs recommended house and land price and investment return.

Example Property Development Report

 

On-line Application (PC and phone app)

An on-line computer query system (personal computer or phone) allows users to geo-locate property (using street address data) is currently being developed.  It returns information on whether the parcel is developable and has potential. This simple query system helps you decide about whether to progress to a ‘Property Development Report’. The cost will be applied as a unit rate on a query.  The tool is currently being offered on a limited trial basis to selected professionals and clients for Beta testing.

Please note an access code is required. (To obtain an access code, please register).  We would appreciate your feedback.

The RDA Tool

Costs and suburbs

The ipData ‘Residential Development Algorithm’ is a first step and only a guide in a long process to develop a property. The profit margin and return provides you with an indication of whether you think its worth developing the property.

Please check our suburb listing for a coding update to see if your suburb is currently available.

Pricing & Suburb Listing

An automated system is currently being developed. If you require more information on an address from the suburbs listed above, please contact us with details.  Pricing structure is also included in the above listing.

“Can I develop this house or block of land? Is it a good investment decision?”

The Algorithm

As Australian populations increase, so does the demand for residential development opportunities to fulfil the growing appetite for middle suburban and inner city living. This is called ‘infill’ residential development. Builders and developers conduct due diligence on individual developable parcels of land that can incur large costs (at times in the tens of thousands of dollars) as well as time delays, counted in days or weeks. Homeowners, buyers as well as real estate agents find it difficult to engage in this process without the right knowledge and tools.

What is the Residential Development Algorithm?

The Residential Development Algorithm (RDA) developed by ipData applies sophisticated mathematical algorithms, cutting edge technology, advanced GIS mapping with analytical tools to quickly cut through a fog of property data, complex council rules, valuations and building approaches to gain new insights. Our state of the art algorithm instantly draws upon a range of real estate and technical ‘Big Data’ bases to assess not only single parcels of land, but also entire streets and suburbs.  This means the user can exponentially speed up the due diligence process to assess potential properties and development options. Investors can gain access to high investment return sites to optimise their investment portfolio, backed by an added library of analytical tools. ‘Analytics’ also allows state and local Government policy makers, state finance and utility authorities to test a range of future scenarios (growth, financial, economic, social, employment, environmental), see ‘Policy Model’.

The Residential Development Algorithm (RDA) allows you to more accurately assess the developable potential of a property before committing financial resources, which are nevertheless required to further refine the feasibility of a site. ipData can also assist at this end by providing a list of preferred professional planners, valuers, designers and architects, builders, real estate agents and other services.

For a more detailed explanation of the RDA tool and it’s application, please download our corporate booklet.   Learn More

How It Works

AlphaGraph

The RDA engine coordinates several hundred thousand data points, multiple ‘Big Data’ bases and formulas all controlled by an iterative process using cutting edge technology and machine learning principles. The algorithm applies a number of steps to assess development options per subject property and then repeats the process from start to finish until all development options are exhausted.

For a more detailed explanation on how the RDA works please download our flyer. Learn More

Who is it for?

The customers of the tool are wide and varied with each product or service drawing on a central database of tested results.

The Real Estate and Building Industry will seek site feasibility assessments to better understand the ‘return on investment’ (ROI) of a property should it be developed. Homeowners may want to know what their ‘nest egg’ return will be if developed now or at a later date while investors may want to know which class of assets they should purchase. Banking and financial experts can test various investment strategies while strategic and council planners may want to test the outcome of a policy change across a suburb.

potential customers graphic-01

 

 

 

“How do homeowners, potential buyers and the real estate industry get access to the data?”.

Policy Model

What is the “Urban Policy Model”?

The Urban Policy Model (UPM) is a new tool to assist strategic and urban planners to policy map and plan local areas with confidence. It allows state and local Government policy makers, state finance and utility authorities to test future scenarios (growth, financial, economic, social, employment, environmental). Councils are often unable to determine with much accuracy how the market will respond to new zoning policies. There is an assumption if a street or area is rezoned the market and building activity will follow. The market is however complicated and influenced by numerous factors. The accuracy of the UPM is based on a parcel by parcel analysis driven by market, property and suburb attributes, drawn from several hundred thousand data points (see ‘How does our Property Algorithm work?’).

The UPM has been developed by ipData and is powered by its Residential Development Algorithm. This makes policy and urban planning more precise when measuring the housing capacity of an area and where, and what type of development, is likely to occur. The UPM is able to assist planners, engineers and policy makers to better determine demographic distributions, employment projections and building activity, council rate revenue projections, stamp duty returns, social and physical infrastructure capacity and traffic and transport outcomes etc. The UPM is able to quickly test planning scenarios analysing up-zoning and redevelopment of low density areas as well as opportunities along corridors and centres. It can also undertake complex calculations such as development volume for site amalgamations.

The UPM is able to input a range of criteria as described above under scenario testing and output a range of indicators under various future scenarios. This is useful for predictive modelling or simply developing a report card of current trends. It can also be used to road test assess a Development Plan Amendment (DPA) to test new policy against market conditions.

ipData can develop a dedicated model for your council or shire upon request. (Please contact us for more information).

For a more detailed explanation on how the Urban Policy Model works please download our flyer Learn More

“Can the urban policy model be used to robustly test a development plan or planning scheme?”.

Why invest?

Why invest in infill development?

Infill development has become the largest component of the property market over the past two decades and in some cities now forms up to 80% of all new housing. Inner and middle ring suburban property prices have risen because of a lack of developable land parcels in these locations compared to increasing demand. This is partly tied to people’s shifting preferences (attracted to amenity, closer to main streets and shopping, lifestyle choices, near cafes etc.). Research suggests that during the next decade younger generations, will become a bigger force in the residential property market in inner city locations; will be one of the main groups who influence how our housing and suburbs function. Older generations are also ‘downsizing’ and making lifestyle choices toward inner city locations.

Infill development not only preserves habitats and valuable agricultural land on the fringe of cities but also costs governments and tax payers significantly less in subsidising infrastructure. It creates about 250% more building industry jobs than greenfield development (new housing on the fringe of cities) and can reduce household running costs by up to $200,000 over 20 years (research from ipData Pty Ltd.)

Is infill development the best property investment?

Wise investors look for infill development opportunities because wealth can be created in three ways:

  1. Subdividing land: subdivision of a large parcel can increase land values of the resulting smaller allotments by up to 300-400%. The subdivision of typical suburban blocks (quarter acre or 750 m squared) can have the effect of doubling land values.
  2. Build housing: new housing on that land capitalises on the value of the land; returning a net profit of around 10-40% per site now or in the future. Developers of medium to high density development will tend to profit even further in a rising market by effectively replicating the value of that land through the number of storeys that can be developed.
  3. Property ownership: Infill development located in middle and inner ring locations is by far the best property investment decision over the longer term.  Our research shows that in Melbourne, property prices increase by up to eight (8) times at the CBD end, compared to about 3 times on the metropolitan fringe (see below).

Over the course of this three-stage process, from purchase to development and then property ownership, the implications are a tenfold increase in wealth over two decades. This is about double what shares or targeted property investment has returned over the past 20 years (See Property Versus shares: which did better? Sydney Morning Herald, June 2014) and over a threefold return of the purchase of new housing in greenfield areas.

 Median price by distance_ Melb new-01

Register to gain access to view objective and quality property intelligence.

ipData

Ipdata-LogoIpData is an exciting research company that turns hard to access data into visualized knowledge, providing the impetus for quality change and economic investment.

IpData takes a systemic view to challenges, developing unique algorithms to solve complex problems that deliver wealth and economic success. IpData is developing informative reports and indicators that will deliver clients competitive knowledge. The Best Cities Project and the HTE Affordability and Housing Stress indicators are our most current innovations.

George Giannakodakis, Executive Director and founder, ipData

George has over 20 years’ experience in urban and regional policy and planning, transport and infrastructure planning and economic analysis. George has a tertiary background in engineering, mathematics and extensive experience in urban and regional planning, urban development, and economics. He has a keen interest in ‘soft systems thinking’ and complexity theory behind ‘big data”. The thinking behind ipData, the sister company of InfraPlan,  has evolved over 15 years, while developing strategies, plans and designs for regions and cities for the SA State Government. George has held executive management roles including Metropolitan Planning, Urban Regeneration, Urban Development and Social Policy. His consulting company InfraPlan has provided professional services for over 300 residential commercial and industrial property developments.

A key motivation for the RDA tool was a belief in the need to increase the density of Australian cities. Our community faces enormous challenges such as population growth, climate change, housing and infrastructure gaps, funding shortages and higher energy and water costs. We believe that our generation, beyond any other in history of humankind, has to meet these challenges for the benefit of future generations.

George Giannakodakis

Alex Pyrlis, Associate Director, Property Development, ipData

Alex is a specialist property solutions provider in the residential and commercial sectors. He has developed an extensive network and diverse experiences over 20 years and has overseen the delivery of a number of large scale property developments with both public and private sector partners.  Alex Pyrlis led the redesign and repositioning of the Anchorage Islands project in NSW; working for Delfin Lend Lease developed major industrial, residential and commercial projects across all capital cities. This included the successful launch of Mawson Lakes in South Australia and the Edgewater project on the Maribyrnong River, Victoria. In recent years he successfully led the team responsible for creation of the Wattlewood Affordable Housing Project in Carrum Downs, Victoria.

He is regularly consulted and retained by private investors and developers to provide detailed due diligence on upcoming investment, often retained from the front end of an investment through to providing leasing and asset management services. He has developed a unique team driven approach to property investment and is often seen by clients as a partner in delivering a solution, be it resolving a vacancy or exploring the development potential of a site

Alex Pyrlis

Team of experienced specialists

IpData is supported by experienced specialists from wide backgrounds, including, computer science, geographic information systems (GIS), urban planning, mathematics, analytics, economics and property development.

IpData is constantly look for enthusiastic professionals from a wide range of disciplines to augment its services.  We also support employing graduates and are currently developing an internship program.  If you are interested in learning more, please contact us for more information.

Professional services

There are many variables at play and even though some developers would seek a minimum 20% profit this can be restrictive on your decision. The next step is to meet with a range of professionals and institutions to progress your development project. This could include an accountant, financial lender or bank, council planner and if required third party professional advisor. Ipdata can provide in-house services and advisers can augment these reports, for example professional builders or planners, valuers and architects/designers.

ipData is currently compiling a list of preferred professionals and can provide referrals upon request. Please contact us for more information.

Register to gain access to view objective and quality property intelligence.

Registration

If you would like more information or examples of the RDA Tool, then we would be interested in hearing from you.

To register, please fill in the below form.  By registering you will be giving us permission to send you promotional material regarding The RDA Tool and you are agreeing to our Terms and Conditions.

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How does our property algorithm work? Does it reflect the current market?

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ipData Pty Ltd,
Level 3,66 Wyatt Street,
Adelaide SA 5000

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