Demand Score [Planned]

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    • #26406
      Avatarend_of_cosmos
      Participant

      Hi team HtAG,

      I would like to take this opportunity to raise a feature request. I was wondering if there is a data focused way on providing consumer confidence feature for property investment per suburb in question. I guess this feature would be an amalgam of supply and demand, a sort of ratio which will give us an opportunity to understand how the population in a particular location perceives the future investment quality of that particular suburb.

      I am not sure if this is a matter of collecting information on the amount of times a particular area has been searched for in your or other portals or whether it is simply a combination of day on market, discounting and listing numbers that also take into consideration how this ration amalgam has moved and changed in the past compared to present time.

      The way I would use this feature is I would compare it to your confidence feature. The confidence feature you provide tells us that the forecast provided will eventuate with a particular room for error in mind.

      The consumer confidence feature allows me to shortlist suburbs that have a low forecasting error but are difficult to chose from simply on numbers provided. It is a useful feature when a few suburbs have been shortlisted and a decision needs to be made on which one to pick.

      Hope this makes sense.

    • #26408
      TerryTerry
      Keymaster

      Thanks, end_of_cosmos.

      Traditionally Consumer Confidence is calculated using a survey methodology, where 1,200 households in Australia are asked a series of questions. As you can imagine, this metric is only reported for the whole country (and sometimes per state).

      I am afraid it is not possible to have Consumer Confidence reported for individual council area or suburb as it would mean performing the aforementioned survey monthly for hundred thousands of households.

      Is your definition of Consumer Confidence different to the above?

      Here is Consumer Confidence index produced by Westpac & Melbourne institute.

      Here is a link to the questionnaire used to calculate Consumer Confidence.

    • #26414
      Avatarmenotyou
      Participant

      sorry to interject. Consumer confidence can be an amalgam of dicounting and DOM as end of consmos has suggested.

      It can also be data that shows how many times an area has been search for in the search engine, google or othrwise

    • #26415
      Avatarmenotyou
      Participant

      Can there be a correlation analysis done between day on market, discounting and listing numbers deriving consumer confidence?

      • #26416
        TerryTerry
        Keymaster

        It is possible, however whatever metric comes out of this analysis should not be called Consumer Confidence. What you are alluding to is analogous to a ration / score that is based on a combination of several other metrics i.e. Dom/Discounting/Sales/Search.

        We will note this for consideration after the aforementioned metrics are introduced @ HtAG, which is something that is already in our pipeline.

    • #26420
      Avatarmenotyou
      Participant

      Well maybe it is consumer sentiment as it is alluding to supply and demand ratio

    • #26421
      Avatarmenotyou
      Participant

      Looking forward to the new features Terry.

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