Building a predictive machine learning model of gentrification in Sydney

Thackway, William; Ng, Matthew; Lee, Chyi Lin; Pettit, Christopher

doi:10.1016/j.cities.2023.104192

Cited by 15 publications

(1 citation statement)

References 44 publications

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“…For example, Cajias [16] proposed the use of AI to support investment managers in validating investment decisions by applying machine learning techniques to large datasets for improved forecasting of rents related to portfolio assets. Thackway et al [22] applied an ML approach to predict gentrification areas. Veuger [23] found that blockchain applications in property investment provide more effective and efficient transactions, increased transparency, and a better investment foundation, in addition to supporting the development of new mortgage markets.…”

Section: Property Technologymentioning

confidence: 99%

The Future Property Workforce: Challenges and Opportunities for Property Professionals in the Changing Landscape

Lee,

Yam,

Susilawati

et al. 2024

Buildings

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The rapid advancement of technology has revolutionised how we live and work, posing challenges and opportunities for various professions, including the property and construction workforce. The COVID-19 pandemic has further accelerated the pace of change. Therefore, in this study, we examined the future property workforce and the required skills for Property Industry 4.0 by conducting semi-structured interviews with property leaders. The findings suggest that digitisation and automation are reshaping the property workforce, including those working in development and construction, necessitating efforts to bridge the gap between graduates’ technology proficiency and practical application. Moreover, calls for proactive regulation of artificial intelligence (AI) use in the property sector highlight the need for regulator and professional body involvement. This study also shows the challenges and opportunities for property professionals with an increased focus on environmental, social, and governance (ESG) matters and the challenges of balancing global expansion with local adaptability due to globalisation. Furthermore, this work highlights a concerning decline in communication skills among graduates, which is partly attributed to the pandemic. Collaborative efforts between universities and industry are essential to cultivate these vital skills among future property professionals. The implications of this study are also discussed.

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Section: Property Technologymentioning

confidence: 99%