Transforming property valuation with traffic noise insights
- ben33903
- Apr 3
- 1 min read
The role of using noise data in property valuations
Consider two identical residential properties: they share the same land size, building type, and they are located on the same street with identical views. Despite these similarities, one property is situated close to a major road at the end of the street, while the other is in a quieter locale, distanced from significant traffic thoroughfares. Anecdotal evidence suggests that residences in quieter areas tend to possess higher market values. However, accurately quantifying this variance and predicting future value fluctuations in light of new infrastructure developments has proven challenging.
PropTrack has partnered with Ambient Maps to release a comprehensive study examining the impact of transport noise on residential property values across Victoria. This study is part of a broader effort to integrate environmental, social, and governance (ESG) factors into PropTrack’s AI driven Automated Valuation Model (AVM).
Noise pollution, particularly from roads, rail, tram and air traffic, plays a significant role in influencing property desirability and market value. Traditional valuation methods often overlook these environmental factors. PropTrack and Ambient Maps' integration of noise data fills this gap, providing a more comprehensive assessment that considers the property value impacts of environmental noise exposure.
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