Team Name:
Avo Smashers
Team Members:
Avo Smashers
Housing affordability is a problem faced by many young adults in Sydney. We decided to visualise this serious problem in a concrete but light-hearted way via a Monopoly board, letting users find out which suburbs an average person in their area would be able to afford a house in.
Users select which LGA they live in. Our model then takes an average 30-year-old living in that area, and computes their projected income and savings over the next 25 years. Comparing this against projected house prices and possible mortgage strategies, it predicts which suburbs this 'average person' would be able to afford a residential property in, and how long they would have to save before they could afford it.
This is then visualised on the Monopoly board, with each 'property' space on the board corresponding to a Sydney LGA. Check it out!
We used ABS data to calculate LGA-level income levels and growth rates, and publicly available house price data to calculate median house prices in each region.
Description of Use We programmatically extracted data for all property sales in NSW from 2020. We then calculated quartiles and mean for each LGA ("district") in dataset.
Description of Use Median income and compound growth per LGA from 2013-2017 for individuals in NSW.
Description of Use Calculated compound annual growth rate of residential properties in Sydney from series A83728383L
Description of Use For couples where reference person aged under 35, calculated rate of expenditure and rent from: * Median goods and services expenditure * Median gross income * Median disposable income * Current housing costs (selected dwelling)
Go to Challenge | 20 teams have entered this challenge.
Go to Challenge | 11 teams have entered this challenge.
