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PwC has partnered with the Property Council of Australia to collect and analyse market intelligence in the property sector.
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PwC partners with the Property Council
20 November 2014
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According to the firm, the partnership is an attempt to develop greater transparency across the property sector at a time when it is of increasing interest to investors and of growing importance to policymakers struggling to meet the demands of the nation's ageing population.
The type of information gathered and analysed includes occupancy rates, sale prices, average selling period, resident age and other data that enables the benchmarking of costs and performance across the industry.
PwC Real Estate director Tony Massaro said there is a need for better quality information across the industry.
"The information we collect will enable us to release publicly available reports that will enable both for-profit and not-for-profit operators to benchmark their performance across a wide range of critical measures," Mr Massaro said.
"The sector is quite fragmented, not least in terms of ownership, and the information from this database will allow stakeholders to develop insights into the industry as they plan and execute their strategies that help shape the future of the sector."
The Property Council's executive director Mary Wood added that the data would be of significant value to investors and policymakers.
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"A wide range of market-critical information will now be housed in a single source.
"This data will be consistently added to, refined and analysed and will be a primary source for policymakers in shaping their decisions in the years ahead."
"The data will also increase the market's overall understanding of the retirement sector and help boost its transparency, which is of such vital importance not only for investors but regulators as well."
"We envisage it will help clear up some of the misconceptions about the industry," Ms Wood said.
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