RE5Q, the AI powered Real Estate Data platform, has reached 19m assets within the UK comprising 17m residential and 2m commercial properties. The RE5Q valuation platform is the most comprehensive dataset used to build accurate and real-time property valuations in the UK for both commercial & residential properties.
To put this in context, commercial property indices can be based on as few as 3,000 properties due to manually intensive constraints. RE5Q’s fully automated, AI powered system, can process tens of millions of data items with higher consistent quality and validation applied to each and every data item. This makes it possible to support thousands of data points per property. The resulting data sets are not only much larger but critically more accurate as well: Yielding more precise valuations.
RE5Q’s data pipeline runs over 400 validation checks on each address, linking together disparate datasets in a seamless, unified and integrated resource. It is this obsession with accuracy and detail which underlies all RE5Q processes and a reason that the way in which RE5Q connects data is as important as the data itself.
RE5Q retains all the data it has ever processed, nothing is discarded. This is for two reasons: firstly, it provides a record of all the open data sets consumed, a data supply chain showing precisely where data came from and secondly, if data does not meet the quality thresholds today it can be improved later to become useable with further data and smarter AI. To handle such large datasets RE5Q uses the same multi-petabyte storage technology used by CERN.
Richard Hodgson, CEO of RE5Q said: “The richness of the data we analyse is unlike anything the market has seen before. We already have over 90% of the UK built environment, using 19 million assets analysed from number of parking spaces available at a commercial property to how many trees on your road. By building our own technology platform, we will be in a position where we can value every property in the UK every day with a combination of static and dynamic data. We are only beginning to unpick the numerous potential use cases for this depth of data.”
In the creation of the database, over 80 million geographic data points have been processed and cross referenced. RE5Q has data about the property, transactions, valuation for commercial rates, corporate ownership both onshore and offshore; all leasehold and freehold reported to the Land Registry, and what is above and below the property; and photovoltaic installations on the roof, radio masts, advertising hoardings, 5G masts. Below a property RE5Q also has Soil, Borehole, Geology, Tube and rail tunnel data below the property. Hyper local information is also onboarded to RE5Q including:
• Every residential transaction since 1995
• Every local energy performance certificate, glazing, heating systems, running costs for space heating and lighting current costs, with suggested improvements
• Every crime and street crime recorded, along with the current status of the police outcome
• Every bus stop (and bus timetable), rail station (includes footfall data), every tube and DLR station, airport and every tree (auto detected from satellite image) in the UK
New geospatial datasets are being onboarded:
• Information from the U.S. Geological Survey (e.g. Satellite Images), British Geological Survey substrata, clay, rock, boreholes (since 1945) soil data (Carbon & hydrology)
• Environment Agency flood data (Risk from Reservoirs, Risk from Rivers, Risk from Surface water)
Despite all these mechanisms RE5Q employs to capture property data, there exists properties for which very little data is available due to a lack of economic activity. In these situations, the hyper local data from RE5Q can paint a much fuller picture and understanding through factors that influence valuation. With RE5Q there is no guessing or rose-tinted view of the world, just the facts: If RE5Q doesn’t have the data, it will tell you – that in itself is knowledge worth having.