HomeOn Launches the World's First AI-Enabled Home Value Calculator: Independent Home Value Estimates and Data Insights on 1 million Sydney Homes - for Free

SYDNEY, Oct. 28, 2019 /PRNewswire-PRWeb/ -- Homeon.com.au today announced the launch of its artificial intelligence enabled home value calculator, offering free, independent home value estimates on nearly 1 million homes across the Greater Sydney region. This includes most detached or semi-detached houses, duplex and terraced houses in the region, not just those for sale.

In contrast to many online property value estimators predicting the home value from a statistical model that takes available property data as primary input, HomeOn users can - work with the AI - to improve the estimate with their own knowledge of the property, from simply tapping the artificial intelligence enabled calculator buttons.

And in addition to work with the AI to finding what a home might be worth in its current condition, users can also access and view - for free - the intuitive data insights on each individual home, including how a property's value estimate compares with its sales history, the supply and demand pattern, and historical value changes in its surround area. These data insights are designed to tell HomeOn users why the home is worth the price, finding this information on Homeon.com.au is completely free, it does not require users to enter any personal information or register.

"Enabling users to work with the AI - to improve the estimate with their own knowledge of the property in a simple and intuitive way, is what makes the HomeOn calculator unique," said Dylan Wu, CEO of HomeOn. "Every home is unique, in many cases the classical way of predicting a home value from available property data didn't work well, because the statistical model can never physically inspect a property, it doesn't know if it has been recently renovated or improved, and what happened to its neighbourhood. That's why we built a new machine learning model that can not only looking into the available property data and proximity to points of interest, but also suggesting potential home facts or property features - allowing users to easily enter or alter the home facts that the AI is not so sure about. Theoretically, the accuracy of home value estimate will be improved."

This October's first release marks the beginning of the HomeOn experience, where Australian home buyers and sellers can work with the AI to make smarter decisions.

For more information, or to find a HomeOn estimate on a Sydney home, please visit https://homeon.com.au/.

About HomeOn

At HomeOn, we collect, combine, and extract value out of all kinds of data. And after that, we uncover insights from that data and with user inputs, we translate our research into unbiased and easy to understand information. Like many Australian home buyers and sellers, we're so tired of making costly mistake of buying a "wrong" property or selling at a "wrong" price, that is why we're determined to make the best use of data science, property data, and local knowledge to help users finding out an honest estimation that can help them better understand why the home is worth the price in today's market.

The AI algorithm behind HomeOn

To estimate a home's up-to-date market value, HomeOn uses a proprietary AI algorithm that incorporates public property data, proximity to points of interest, and user-submitted home facts for 1.7 million homes in New South Wales. Additionally, hundreds of statistical models are deployed to cross-examine from a few tens to hundreds of data points for each individual home. The AI algorithm adapts as the user input or market conditions change, meaning that your price estimation is always up to date. Our data scientists and developers are working continuously to train and fine-tune the algorithm to help you save time and effort finding your dream home or selling your current property.

SOURCE HomeOn