In an age where artificial intelligence is making waves across many industries, the buzz is louder than ever, sparking discussions on its incredible potential and potential pitfalls. But, as we dive deeper, a new question arises: how will the rapid AI advancements reshape our understanding and interaction with complex markets, like real estate?

Today, we sit down with Luke Metcalfe — founder of Microburbs, and listen as he unpacks the transformative potential AI holds for the property market. He delves into the exciting prospects AI offers, where instant insights could reshape the way we evaluate property, saving time and resources.

As we explore the changing dynamics, Luke emphasises the evolving roles of various experts in this realm. While AI might provide quick answers, it takes a seasoned data scientist to formulate the right questions in the first place. With AI's assistance, a new paradigm is emerging, empowering investors, real estate professionals, and even potential homeowners with deeper insights into property markets.

But will AI really pave the way for a more efficient and informed decision-making process in real estate, or should we remain cautious about its impact on the accuracy of investment choices?

Episode Highlights:

00:00 - Introduction

01:12 - Who is Luke Metcalfe?

03:30 - How does data utilisation enhance real estate investment strategies?

10:46 - What factors beyond metrics are now considered for successful investments?

14:50 - Is AI's predictive power the future of tailored property suggestions?

19:45 - The role of a subject matter expert in balancing data-driven property insights

23:15 - Is there a correlation between happiness and a property’s price?

28:35 - Is there a link between incomes and growth?

32:57 - Do demographic shifts in suburb residents affect real estate dynamics?

36:49 - The problem with short-termism in the property space

40:28 - Can data overlays really envision urban development in response to growth?

43:56 - Using the data to model the market

47:26 - The future of real estate from the lens of a data scientist

52:10 - Luke Metcalfe’s property dumbo

About Our Guest:

Luke Metcalfe is a distinguished name in the realm of data science and entrepreneurship. With over 25 years of experience under his belt, Luke has honed his skills to become a true luminary in his field. As the founder of Microburbs, he has pioneered a unique approach to data analysis that focuses on identifying the core drivers of business outcomes.

Luke's expertise lies in swiftly navigating complex datasets, both within organizations and beyond. He's not merely a statistician – he's a polymath data expert who seamlessly combines rapid coding, insights from public data sources, statistical knowledge, marketing insights, and an entrepreneurial mindset. 

Connect with Luke Metcalfe:
Follow Luke on LinkedIn: https://www.linkedin.com/in/luke-metcalfe-data-scientist/
Visit Luke’s website: https://www.microburbs.com.au/

Resources mentioned in this episode:

Episode 16 | The truth about what really makes property prices go up or down https://www.theelephantintheroom.com.au/podcasts/016

Resources:
Visit our website https://www.theelephantintheroom.com.au
If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast questions@theelephantintheroom.com.au
Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Mortgage Broker? https://www.blusk.au
Work with Chris: hello@blusk.au

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!
Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

In an age where artificial intelligence is making waves across many industries, the buzz is louder than ever, sparking discussions on its incredible potential and potential pitfalls. But, as we dive deeper, a new question arises: how will the rapid AI advancements reshape our understanding and interaction with complex markets, like real estate?
Today, we sit down with Luke Metcalfe — founder of Microburbs, and listen as he unpacks the transformative potential AI holds for the property market. He delves into the exciting prospects AI offers, where instant insights could reshape the way we evaluate property, saving time and resources.
As we explore the changing dynamics, Luke emphasises the evolving roles of various experts in this realm. While AI might provide quick answers, it takes a seasoned data scientist to formulate the right questions in the first place. With AI's assistance, a new paradigm is emerging, empowering investors, real estate professionals, and even potential homeowners with deeper insights into property markets.
But will AI really pave the way for a more efficient and informed decision-making process in real estate, or should we remain cautious about its impact on the accuracy of investment choices?
Episode Highlights:
00:00 - Introduction
01:12 - Who is Luke Metcalfe?
03:30 - How does data utilisation enhance real estate investment strategies?
10:46 - What factors beyond metrics are now considered for successful investments?
14:50 - Is AI's predictive power the future of tailored property suggestions?
19:45 - The role of a subject matter expert in balancing data-driven property insights
23:15 - Is there a correlation between happiness and a property’s price?
28:35 - Is there a link between incomes and growth?
32:57 - Do demographic shifts in suburb residents affect real estate dynamics?
36:49 - The problem with short-termism in the property space
40:28 - Can data overlays really envision urban development in response to growth?
43:56 - Using the data to model the market
47:26 - The future of real estate from the lens of a data scientist
52:10 - Luke Metcalfe’s property dumbo
About Our Guest:
Luke Metcalfe is a distinguished name in the realm of data science and entrepreneurship. With over 25 years of experience under his belt, Luke has honed his skills to become a true luminary in his field. As the founder of Microburbs, he has pioneered a unique approach to data analysis that focuses on identifying the core drivers of business outcomes.
Luke's expertise lies in swiftly navigating complex datasets, both within organizations and beyond. He's not merely a statistician – he's a polymath data expert who seamlessly combines rapid coding, insights from public data sources, statistical knowledge, marketing insights, and an entrepreneurial mindset. 
Connect with Luke Metcalfe:
<ul>
<li aria-level="1">Follow Luke on LinkedIn: <a href="https://www.linkedin.com/in/luke-metcalfe-data-scientist/">https://www.linkedin.com/in/luke-metcalfe-data-scientist/</a></li>
<li aria-level="1">Visit Luke’s website: <a href="https://www.microburbs.com.au/">https://www.microburbs.com.au/</a></li>
</ul>
Resources mentioned in this episode: 
<ul>
<li aria-level="1">Episode 16 | The truth about what really makes property prices go up or down <a href="https://www.theelephantintheroom.com.au/podcasts/016">https://www.theelephantintheroom.com.au/podcasts/016</a></li>
</ul>
Resources:
<ul>
<li aria-level="1">Visit our website <a href="https://www.theelephantintheroom.com.au">https://www.theelephantintheroom.com.au</a></li>
<li aria-level="1">If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast <a href="mailto:questions@theelephantintheroom.com.au">questions@theelephantintheroom.com.au</a></li>
<li aria-level="1">Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au/">https://www.gooddeeds.com.au</a></li>
<li aria-level="1">Work with Veronica: <a href="http://www.veronicamorgan.com.au">https://www.veronicamorgan.com.au</a></li>
<li aria-level="1">Looking for a Mortgage Broker? <a href="http://www.blusk.au">https://www.blusk.au</a></li>
<li aria-level="1">Work with Chris: <a href="mailto:hello@blusk.au">hello@blusk.au</a></li>
</ul>
Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!
<ul>
<li aria-level="1">Subscribe on YouTube: <a href="https://www.youtube.com/@theelephantintheroom-podcast">https://www.youtube.com/@theelephantintheroom-podcast</a></li>
<li aria-level="1">Subscribe on Apple Podcasts: <a href="https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719">https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719</a></li>
<li aria-level="1">Subscribe on Spotify: <a href="https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765">https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765</a></li>
</ul>

Who's really in control when you buy a property?

The Elephant In The Room is where the things that no one wants to talk about, actually get talked about.  

Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out what’s really going on in the world of real estate.

Veronica and Chris talk to property owners and buyers every day in their respective lines of business. They’ve observed a wide spectrum of confidence in people’s decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together they’re going to uncover who’s really making the decisions when you buy a property.

In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode you’ll learn from the mistakes of a “property dumbo” as well as Chris & Veronica’s “elephant rider bootcamp” training session.

The plan? This property podcast has been created to help us all make better property decisions!

We talk about the things no one wants to talk about in the Property Market

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