Applied ML in Real Estate

(A picture is worth a thousand words!)

Dr. Thies Lindenthal

Department of Land Economy / University of Cambridge
E-mail: / Twitter: @ThiesLindenthal










Teach computers to “see”
Infer quality or style attributes from street-level images.







Vintage Value?
“Machine Learning, Architectural Styles and Property Values”,
with Erik Johnson

Our Toolbox
Computer vision + ML classification + trad. econometrics

Large scale, low cost
Collecting images/feature vectors of each building in the UK.








Electric car!








Solar panels!








Loft conversion!

Questions so far?

Don't be shy.



Automatic valuation, incorporating image data.

  • $ \small log({Price}_{it}) = \alpha_{0} + X^{'}_{it}\beta + \varphi_t + \omega_i + \epsilon_{it} $
  • Classify residuals based on images (out of sample), then re-estimate:
  • $ \small log({Price}_{it}) = \alpha_{0} + X^{'}_{it}\beta + PredResidual_i\gamma + \varphi_t + \omega_i + \epsilon_{it} $

More Questions?

There is surely something.



Let's talk?

I would love to hear from you!

Twitter: @ThiesLindenthal