UNSW collaborates with industry giants for urban planning development
University of South Wales (UNSW) is working in collaboration with PEXA and Frontier SI for property management development in Urban Regions. Moreover, they are utilising a digital toolkit known as RAISE (Rapid Analytics Interactive Scenario Explorer) for the utilisation of big data-related documents for urban planning and development. Besides, this technological venture is built upon different research work conducted between the Common Wealth Bank of Australia and the Liverpool city council.
In addition, the purpose of this toolkit is to link concepts related to big data and artificial intelligence and advanced analytics to estimate the overall value of the property. RAISE also ensures to provide a secure and dependable solution to ensure appropriate reduction of cost and different risks that are associated with the land value analysis of the property.
According to Scott Butterworth, the Chief Analytical Officer at PEXA," With its evidence-driven scenario modelling, RAISE will revolutionise the way we approach urban planning and development. It could also prove highly beneficial to Australia's lending community, potentially expediting the mortgage approvals process on behalf of Australian homebuyers. PEXA is delighted to be leading this venture, delivering on real-world needs."
Besides providing relevant information about the property market, the toolkit would also be used to learn about the impact of the Covid-19 pandemic on the property and real estate market. The research is currently being utilised, and it has been estimated that the land value on the East coast of Australia would enhance up to $140 billion, using which the high-speed rail network could be funded.
