A new report by leading data analytics company, Greater Data, suggests suburbs across the nation that are likely to experience a much-need upturn – or downturn – in property prices based on a trend it identified that connects vehicle sales to real estate movements.
The report, Gentrification of the Driveway, takes exclusive car sales data from the company’s comprehensive automotive data product, Green Light Automotive Intelligence, and matches it with its extensive property data sets to identify areas that are anticipated to move in value.
Greater Data Chief Executive, Georgie Brooke, said the forecasted property trends identified were derived from data matching technologies between the property and automotive markets.
“When overlaying new automotive sales data with property insights, our data scientists found that a surge in localised car sales is an indicator of a housing price boom,” he said.
“For those suburbs that have seen car sales peak within a 12-month period, a property upswing is likely to be on the cards by this time next year.”
Mr Brooke said the blend of property and automotive insights will be invaluable to many organisations, including motoring manufacturers, dealerships, the real estate sector and governments in order to determine growth areas.
“The figures provide a comprehensive illustration of recent pre-emptive market movements that can be used to identify the next boom suburbs, streamline canvassing and improve advice,” he said.
“Manufacturers can make pre-emptive decisions on where to explore new franchising opportunities, dealerships can refine their in-market messaging and audience profiling and media agencies can tailor their digital and out of home advertising to their audience.”
While these predictive trends are a fundamental step for Greater Data in enriching their data, Mr Brooke said the organisation has plans to evolve its modelling sophistication to produce stronger insights.
“Our initial research studied almost 5 million transactional data records between 2014 and 2019 to draw conclusions on the automotive and property markets, and based on what we’re seeing, these trends have the potential to open a world of opportunities.”
To find out the suburbs most likely to boom or bust in your state, read the full report here