Issue Proposal: Adding Schema for Property Market Data or Valuation Comparison Data

Background: In my observation, the PDTF currently does not possess a schema designed to manage valuation comparison data. This schema is essential for efficiently collecting and comparing property valuations (market values) within the real estate and property market domain. The proposed schema encompasses a wide range of property-related information, including recently sold properties, properties currently on sale, property pricing estimates, and various property characteristics.

Proposal: We are suggesting the addition of a comprehensive schema to address this gap in PDTF's data handling capabilities. The schema will serve as a standardized framework for capturing, organizing, and sharing property market data and valuation comparison data. This will facilitate accurate analysis and comparison of property valuations across different properties. The anticipated structure of the proposed schema is as follows:

"valuationComparisonData": {
          "type": "array",
          "title": "Valuation Comparison Data",
          "description": "A collection of data used to compare the valuations (market values) of properties in the real estate or property market. It typically includes various types of information about properties, such as recently sold properties, properties currently on sale, property pricing estimates, property characteristics, and more.",
          "items": {
            "type": "object",
            "properties": {
              "listingType": {
                "title": "Listing Type",
                "type": "string",
                "enum": [
                  "RecentlySold",
                  "CurrentlyOnSale"
                ]
              },
              "listingStatus": {
                "title": "Listing Status ",
                "type": "object",
                "properties": {
                  "type": {
                    "type": "string",
                    "enum": [
                      "Sale",
                      "Sold"
                    ]
                  },
                  "date": {
                    "title": "Date",
                    "type": "string",
                    "format": "date-time"
                  },
                  "price": {
                    "title": "Price",
                    "type": "object",
                    "properties": {
                      "amount": {
                        "title": "Price",
                        "type": "number"
                      },
                      "currency": {
                        "title": "Currency",
                        "type": "string",
                        "enum": [
                          "USD",
                          "EUR",
                          "GBP",
                          "JPY",
                          "CAD",
                          "AUD",
                          "Other"
                        ]
                      }
                    }
                  }
                }
              },
              "propertyFullDescription": {
                "title": "Property description",
                "type": "string"
              },
              "uprn": {
                "title": "Uprn",
                "type": "string"
              },
              "propertyType": {
                "title": "Property Type",
                "type": "string",
                "enum": [
                  "Apartment",
                  "Flat",
                  "Property",
                  "Detached House",
                  "Maisonette",
                  "Semi-detached House",
                  "Terraced House",
                  "Others"
                ]
              },
              "tenure": {
                "title": "Ownership Type",
                "description": "What type of ownership is the property?",
                "type": "string",
                "enum": [
                  "Freehold",
                  "Managed Freehold",
                  "Commonhold",
                  "Leasehold",
                  "Other"
                ]
              },
              "BasicDetails": {
                "title": "Basic Property Details",
                "type": "object",
                "properties": {
                  "bedrooms": {
                    "title": "Number of bedrooms",
                    "type": "integer"
                  },
                  "bathrooms": {
                    "title": "Number of bathrooms",
                    "type": "integer"
                  },
                  "yearBuilt": {
                    "title": "Built Year",
                    "type": "string",
                    "format": "date"
                  },
                  "floorArea": {
                    "title": "Floor area",
                    "type": "object",
                    "properties": {
                      "inSquareMeter": {
                        "type": "object",
                        "properties": {
                          "area": {
                            "title": "Area in sqaure meters",
                            "type": "number"
                          },
                          "pricePerSquareMeter": {
                            "title": "Price per square meter",
                            "type": "number"
                          }
                        }
                      },
                      "inSquareFoot": {
                        "type": "object",
                        "properties": {
                          "area": {
                            "title": "Area in sqaure foot",
                            "type": "number"
                          },
                          "pricePerSquareFoot": {
                            "title": "Price per square foot",
                            "type": "number"
                          }
                        }
                      }
                    }
                  }
                }
              },
              "sourceUrls": {
                "title": "Urls that point to property images, maps, etc.",
                "type": "array",
                "items": {
                  "type": "object",
                  "properties": {
                    "url": {
                      "title": "URL",
                      "type": "string",
                      "format": "uri"
                    }
                  }
                }
              },
              "propertyPricing": {
                "title": "Property Pricing Estimates",
                "description": "Approximate or calculated values assigned to a property to estimate its financial worth.",
                "type": "object",
                "properties": {
                  "rentalEstimate": {
                    "title": "Rental Estimate",
                    "type": "number"
                  },
                  "estimatedPrice": {
                    "title": "Estimated Price",
                    "description": "Approximation of the property's current market value",
                    "type": "number"
                  },
                  "yield": {
                    "title": "Yield",
                    "description": "Return on investment (ROI) generated by an income-producing asset",
                    "type": "number"
                  }
                }
              }
            }
          }
        }

Implementation and Feedback: We invite the PDTF community to contribute their insights, suggestions, and feedback on this proposed schema. Collaborative input from experts in real estate, data analytics, and technology will help refine and optimize the schema for real-world usability. Next Steps: We encourage discussion and evaluation of this proposal by the PDTF community. Once consensus is reached, we can proceed with a pilot implementation to test the schema's effectiveness with a limited dataset, aiming for a comprehensive solution that enhances the PDTF's data capabilities in the real estate and property market domain.

Your participation and feedback are crucial in shaping this schema to meet industry needs effectively. Let's collaborate to create a valuable addition to PDTF's resources.

Property-Data-Trust-Framework / schemas

Issue Proposal: Adding Schema for Property Market Data or Valuation Comparison Data #90