Combining vast property datasets, cutting-edge AI modelling, and decades of expertise, CoreLogic's Automated Valuation Model (AVM) is pioneering innovation and helping to unlock significant efficiencies across the property industry.
- Continuous improvement, rigorous testing and the use of cutting-edge techniques such as AI and machine learning have led to an uplift of 8% in AVM accuracy since CoreLogic’s last release in February 2023.
- Powered by AI modelling and a superior data ingestion framework, the Smart Data Platform initiative has delivered over one million additional usable AVMs, driving efficiencies in the digital home loan ecosystem.
CoreLogic is actively investing in proprietary models and data sources to deliver even greater value to its customers. With last month’s release, over one million additional usable AVMs are now available in CoreLogic’s data universe, helping to enhance operational efficiencies for lending customers.
This innovation centres around the Smart Data Platform initiative, a suite of sophisticated capabilities that are unlocking the next generation of property data. Our seamless framework for data ingestion and enrichment, complemented by our proprietary AI modelling process, allows for a comprehensive, near real-time multi-dimensional view of a property that ultimately unlocks more usable AVMs.
CoreLogic Head of Data and Analytics, James Vaughan, said through the capabilities unleashed by the Smart Data Platform initiative, customers can be assured that their strategic decisions are grounded in the latest and most comprehensive property data available.
“By incorporating the most current information available, our AVMs offer highly reliable and timely property value estimates,” he said.
“Using machine learning and advanced tools means our platform can handle complex challenges and large datasets efficiently. Future updates will include further image feature extraction, that will aim to enhance the depth and precision of our AVMs.”
Considered the gold standard in instant data-enabled or data-powered property valuation, CoreLogic's AVM is trusted by over 80% of the country’s top 50 residential lenders. Through a commitment to continuous improvement, rigorous testing, and the leveraging of cutting-edge data techniques, AVM accuracy has seen an uplift of 8% since its last release in February 2023.
CoreLogic Principal Product Manager - AVMs, John Leedham said since early 2024 almost 90% of CoreLogic’s AVM-powered estimated property values have fallen within 15% of the actual sale price, providing a high level of accuracy in predicting property values.
“More reliable AVMs results in increased confidence among lenders and their customers, leading to more informed decision-making across the real estate industry. From buyers and sellers to investors and insurers, reliable valuations underpin sound judgments and strategic moves within the market,” he said.
“As accuracy improves, so too does the integrity and efficiency of industry more broadly, creating a foundation where stakeholders can operate with confidence and clarity.”
The future of property valuation
CoreLogic’s ability to harness the latest technology in AI, machine learning and data modelling empowers stakeholders to make better and more informed decisions; putting our customers at the forefront of the industry as it evolves to meet consumer expectations for speed, agility, and accuracy across the property valuations process.
Learn more about our market-leading AVM
CoreLogic Australia