Webinar: Residential Cost Prediction: A Construction-Centric Algorithm

Please note: The webinar link will be sent to all attendees the day prior to the event

This webinar will examine how standardising a Predictive Housing Cost Metric could settle the current chaos in the residential construction market. In inflationary times, bankruptcies would lessen; in others, savings would flow to consumers. Overall, more predictability provides increased planning accuracy.

Determining the specific set of factors and encoding their data into an algorithm would allow for testing by residential construction stakeholders, thereby increasing their confidence. A different 'rise and fall' metric other than the Consumer Price Index will introduce more accuracy. This should result in fair treatment of constructors and home buyers. The Office of the Building Commissioner in NSW has pointed to the value of increased market confidence to all stakeholders, including state governments, financial institutions, and local councils.

Stevens has spent the last year working with two data science teams to explore many possibilities for a process and forecast equation. John Smolders was an industry advisor. Together, they have crafted, tested and will offer an algorithm that reflects future cost changes from 20 years of history. This webinar aims to start a discussion about new housing inflation, accurate forecasting and growing confidence in the sector.

About the speakers:

Matt Stevens PhD

Matt Stevens, PhD, FAIB, is a Senior Lecturer at Western Sydney University. He teaches and researches construction contracting issues. Since arriving at WSU in 2018, he has authored over 70 academic and professional papers. He instructs several subjects, including Modern Construction Enterprises and Modern Construction Projects. 

Matt’s recent text book, co-authored with John Smolders, Understanding Australian Construction Contractors: A Guide for Emerging Professionals (Routledge), was published in 2023. His other industry books include The Construction MBA and Managing a Construction on Just 24 Hours a Day (McGraw-Hill). His 2024 book with Smolders titled Construction Contracting Business Management will encompass over 1,000 pages.

Before 2018, Stevens advised over 100 construction firms in Australia, Canada and the US. His credentials, experience, and body of work all focus on construction contracting. 

John Smolders AM

John is a practicing construction professional. Grounded by onsite and offsite training and practice over many years, he now shares these insights with his students and peers.

Having served and represented the industry through professional organisations, John was awarded Member of the Order of Australia for significant services to the Construction Industry and to Higher Education in 2019.

About the webinar:

Time: 12:00pm - 1:00pm (AEST)
Cost: $38 (incl. GST) AIQS Members // $50 (incl. GST) Non-Members
CPD: 1 point

Register below for the live session or CLICK HERE to register for the recording.