Frequently Asked Questions

How do make your demand request listing rank higher and get more exposure?

One is our “Urgency Listing”. This listing space is ranked by demand urgency:

  1. You could add urgency label to your demand request list for free.
  2. You could make some deposit to express your urgency degree. The higher deposit made, the higher ranking on the urgency listing.

Another one is our “Latest Listing”. This listing space is ranked by the latest updated time of your listing. Valid update activities include initial listing uploading, comment, rate and response property listing response. You are encouraged to reach out to your friends to rate and comment your listing.

How do make your sales/lease listing rank higher and get more exposure?

We have two listing spaces to get your listing high exposure.

 

One is our “Top Listing”. This listing space is ranked by the quality of your listing. Three factors contribute to the ranking:

  1. The liveability index of the suburb of your listing property.
  2. The investment prospect of the suburb of your listing property.
  3. The asking price, bidding price relative to the intrinsic value evaluated by our algorithm.

 

Another one is our “latest Listing”. This listing space is ranked by the latest updated time of your listing. Valid update activities include initial listing uploading, comment, rate and bid for auction. You are encouraged to reach out to your friends to rate and comment your listing.

 

How to post more than one listing at the same time?

As default, every member user is only allowed to post one listing. This listing could either be a Demand Request Listing or Slaes/Lease Listing. If you need more listing, you could:

1. Refer to one of your friends, you could directly obtain your listing after your friend register as a member of GeoIndex. This new listing space is permanently valid. Each user can refer unlimited friend.

2. If you don’t intend to directly refer GeoIndex to your friends, you could share GeoIndex’s Facebook feed to your circle. Then, you could directly obtain one more listing. This listing space is only valid for one week. You could resume this listing space if you share again.

3. If you choose not to refer to your friends or share on Facebook, you could simply pay flat rate of $49.99 for every another listing. However, this listing only valid for one month.

What is liveability Index and how to interpret it?

Liveability Index aims to measure the liveability of each suburb in Australia based on reliable quantitative data only. It considers following factors as the base:

 

  1. Property related cost, mainly focused on the rental rate and house price.
  2. Population density and distance from central urban area.
  3. Education, employment and income.
  4. Infrastructure and facilities, including electricity, internet, healthcare and so on.

 

Our livability index is a dynamic intelligent index where factors and weights are continuously adjusted according to website users’ preference. We aim to provide you the most reasonable and up-to-date livability index.

What is data source and methodology?

ABS (Australian Bureau of Statistics): Data from ABS is open and quality which forms a solid foundation for our website.

 

Property Transaction Data: We also obtain property transaction data from open online source. We aggregated data from individual property to suburb level, state level and national level.

 

Geographical Data: This data also sources from Australian government. This data is employed to map data and forecast to map so that our users could grasp the comparison in one sight.

 

Based on ABS data, we build liveability index at suburb level. We also made real estate price forecast based on advanced machine learning models. In these models, we build correlation between the historical real estate price with various relevant factors. We first select relevant factors by advanced algorithms. Then, we build our predictive power. Our model is hierarchical, which contains Marco-economics analysis on national and state level, combined with a big-data analysis at suburb level.

Why do we create this website?

Due to our personal experience of buying/renting a real estate in Australia, we found reliable suburb data and forecast is a necessary guide on our real estate location decisions. We used this knowledge to guide our real estate selection because we are data scientists and economists who can base decision on reliable data analysis. We believe every person deserves to made a wise and educated decision like us. Therefore, we made this website to help.

 

Also, due to our “natural laziness” of manually collecting real estate listing information, we prefer to ask real estate agents and owners to come to find us, who need a property to buy or rent. Therefore, we enable people who need a real estate to post your demand request listing and wait for people to come to you.

 

This website is also totally free in terms of providing all these services. Without surprises, we indeed have our financial goals as a company, but we don’t rely on our users to directly pay for us. We know we could make money in another way.

 

Let’s start the journey. You would find it useful and valuable when you have to deal with a real estate.

How do we make prediction about real estate market?

We have sophisticated statistical and econometric model for real estate market prediction. A hierarchical model with three layers were built step by step:

 

  1. National Level Model: This model takes care of the Australian overall real estate market trend. It considered nation-wise factors, including:
    • Gross Domestic Product (GDP)
    • Population Growth, Immigrants Growth and Natural Growth
    • Income and productivity
    • Export and Import
    • Household Saving Rate
    • Consumer Price Index (CPI) and Mortgage rate
    • Unemployment Rate
    • Dwellings Construction Number and Value
    • Growth of Finance Credit for Housing
  2. State Level Model: This model handles the prediction for each state in Australia by considering their own characteristics. The predictors used for this prediction purpose include:
    • Real estate construction approval, commencement, and completion in each state
    • Population growth in each state
    • Interstate and international migration
    • Income/Earning growth in each state
    • Consumer Price Index (CPI) in each state
    • Investor lending and other housing finance commitment
    • Job growth
  3. Suburb Level Model: This model recognises the difference between suburbs and try to tell which is suburb is the most promising suburb to obtain capital gains. It considers factors:
    • Population Growth and Population Density
    • Crime rate
    • Socio-Economic Development (income, education, occupation, unemployment)
    • Demographics (age distribution, language, religion, ancestor)
    • Primary and Secondary School
    • Access Convenience (train/bus station, road)

There are some assumptions to make this predictions, including:

  1. No significant change to Australian monetary policy or other significant internal or external economic shocks
  2. No significant change in terms of migration policy or restrictions on oversea real estate buyers.
  3. No significant change on land supply policy.

Predictions could be correspondingly updated if these fundamental policies are changed to ensure the accuracy of our predictions.