This week a new proptech startup launched that allows property investors and buyers agents to understand what suburbs in Australia are about to BOOM in price or alternatively, what suburbs are about to go BUST.
The technology startup TUDI uses AI and a unique predictive algorithm that highlights the next suburb hotspots across Australia. The platform takes data from over 15,000 suburbs across Australia and then crunches this to produce a list of hot suburbs.
When crunching the data for their algorithm, they focuses on 5 key hotspot indicators for each suburb that are important to most property investors. Users of the platform, then have the ability to set the importance (via a rating of 1 to 5) for each of these key hotspot indicators which will then adjust the suburb results according to their preference.
TUDI is founded by Joseph Amoia and Julien Mougenot who prior to launching the startup ran their own MVP by way of using their algorithm to decide on a suburb to buy their own investment property. The two co-founders purchased a property in Moranbah back in 2017 for $210,000 and since then the property has returned a 56% capital gain and 9.4% rental yield. This is an outstanding ROI given the market downturn we’ve experienced across Australia.
TUDI has launched with a Freemium model whereby on the free version users gain access to the hot-spot algorithm across 5 suburbs. They believe this is a great way for customers to test the platform and the smarts they provide.
If consumers are interested in researching an unlimited number of suburbs and would like additional insights in relation to suburb statistics, then they can upgrade and pay a minimal monthly fee for this additional service.
There is a huge amount of data in the real estate sector so it’s great to see a startup arise that utilises this data to help provide a better customer experience to property seekers. The question begs:
“Does the TUDI platform present a threat to property investor advisors in relation to it replacing them as a virtual property investment assistant”
Note: TUDI is a customer of Agentpoint Pty Ltd the owner of Business2