USC app predicts property profits

A FREE iPhone application developed by the University of the Sunshine Coast aims to help people assess what they should be paying for land.

A FREE iPhone application developed by the University of the Sunshine Coast aims to help people assess what they should be paying for land or what profit they might make from a property development.

The Real Estate Feasibility (REFeasibility) app was a collaboration between USC Lecturer in Property Economics and Development Steven Boyd and Dan McKinnon of AppFactory at the USC Innovation Centre.

Commissioned by USC Head of School of Business Professor Mike Clements, it was designed as an efficient, consistent tool that students and the general public could use when assessing a proposed development.

"It builds on the property feasibility model in our Property Economics and Development courses and can be used 'on the move' by any budding developer," Professor Clements said.

Mr Boyd said the app could help people estimate how much to pay for a site or how profitable a project may be, and then export the results by PDF for later detailed analysis.

"They can test multiple development options and share the findings with their independent property expert before committing to a development proposal or property purchase," he said.

REFeasibility is available for free download at iTunes or go to http://www.usc.edu.au/real-estate.

Originally published as USC app predicts property profits