Our Solution
Luma Analytics’ team of data scientists developed a state-of-the-art Automated Valuation Model (AVM) using advanced machine learning paradigms. The model integrates a wide range of market, geographic, sales, and property attributes, from urban apartments to rural lifestyle blocks, to generate accurate, real-time estimates of residential property values. Built with scalability and transparency in mind, the AVM can be continuously retrained as new data becomes available, ensuring ongoing accuracy and relevance.
Outcomes
The model delivers highly accurate results, outperforming existing valuation tools in the market and aligning with cutting-edge research in predictive modelling. It now powers REINZ’s automated property price estimates, available publicly through realestate.co.nz, providing New Zealanders with trusted, data-backed property insights at scale.
Featured Results
- Automated Valuation Model (AVM) built using advanced machine learning
- Integration of property, market, and location data for precise valuations
- Model accuracy exceeding existing market benchmarks
- Publicly accessible valuations powering realestate.co.nz
- Continuously retrained system ensuring ongoing precision and adaptability
