Developers have always needed to find better and more efficient ways to find and assess sites within a finite land supply. Within that process, the single biggest challenge developers face today is also that which presents the greatest opportunity – the rapidly shifting landscape of the housing market.
Out-of-date data is the biggest risk to developers under these market conditions, as incorrect costs and comparable estimates could result in major losses, but getting it right could result in favourable returns.
Rather than going bust, agile, data-savvy developers have the opportunity to boom, and that’s where innovations like the LandTech Ecosystem and our comparables and property data come in.
What does the dataset look like?
Our partnership with LandTech provides not only rental valuations to LandTech, but also a rich variety of residential property information and comparables, including:
- Achieved price, asking price and valuations estimates
- Monthly rental asking prices and equivalent £/sqft
- Property type, build date, tenure, floor area, bedrooms
- Links out to the EPC and sales advert for reference where applicable
And, all the data is directly integrated into the wider LandTech Ecosystem, with data updated every 30 days.
Where does Hometrack source their data and how reliable is it?
Our comparables data lake is compiled from a number of first-hand reliable sources including new mortgages, remortgages, RICS surveyor reports and rental yields across England, Wales, and Scotland.
None of this data is scraped, meaning it all comes directly from the source and is fed into the LandTech product.
The data can be overlaid onto that of third parties, – for example, HM Land Registry and EPC data.
These secondary data sources are often out of date, leaving users open to inaccuracies. With our data updated every 30 days, users get access to the most current information available.
The difference between manually checking listings vs. using our data
Two key benefits to highlight here are the time saving aspect and the ability to overlay comparables with other datasets – like those used by LandTech.
From a time saving perspective, rather than trawling through listings, users can see the most up-to-date achieved and asking prices, and valuations estimates fed directly into their products.
Furthermore, the ability to overlay that information and conduct all due diligence in one place makes your research much easier and more comprehensive.
LandTech combines our data with extensive planning, policy, land use, power and ownership information to get a quick scope of the potential of any given site.
LandTech’s next focus is to build out a whole workflow, so that its users can manage pipelines, build reports, send letters, write appraisals and apply for funding.
“Data reliability and accuracy are paramount for developers, that’s why we focus on bringing the largest and most up to date comparables and property information to the market. Teaming up with LandTech was a no-brainer for us, both of us being data leaders who put innovation and adding value for our customers at the forefront of our work. It’s our hope that together we can solve the challenges property professionals face and make the data our customers need hyper-accessible.”
Ross Allan, Director of Property Data Solutions, Hometrack