Using ChatGPT and Bard to create real estate content. — Suburban Trends (2023)

ChatGPT and Bard are two large language models (LLMs) trained on large data sets of text and code. These models can generate texts, translate languages, write different types of creative content and answer your questions in an informative way.

In the real estate industry, ChatGPT and Bard can be used to create a variety of content including:

• Rental Market Updates

• real estate ads

• blog posts

• white books

• email marketing campaign

To use ChatGPT or Bard for content creation,First you need to provide the model with some data.These data may include:

• Market data such as rental prices and vacancy rates

• Real estate data like square footage, number of rooms, and location

• Content ideas, such as blog post topics or email marketing campaigns

Once you've fed the model with data, you can generate content by providing a prompt. A notice is a short piece of text that tells the model what to write about. For example, you could provide the following notice for a rental market update:

Write a detailed rental market update for the Newcastle area. Provide information on rental prices, vacancy rates and trends.

ChatGPT and Bard then generate text based onyour request(s). You can then review the text and edit it if necessary.

In our experience, using ChatGPT and Bard for real estate content creation can be an efficient and time-saving way to produce quality content. However, it is important to note that these models are still evolving and may not always provide accurate or relevant results. Therefore, it is important to examine the output carefully and make changes if necessary.

When used carefully, ChatGPT and Bard can be a powerful tool for real estate content creation. These models help you produce more content, faster, and with greater precision. As these models evolve, they are likely to become even more powerful and useful tools for the real estate industry.

Here are some additional tips for using ChatGPT and Bard for real estate content creation:

• Be clear and concise in your requests. The more specific you are, the better the results will be.

• Provide the model with as much data as possible. The more data the model has, the better it can understand your query and generate relevant results.

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• Check the output carefully and make changes if necessary. As mentioned above, these models are still evolving and may not always provide accurate or relevant results.

• Experiment with different indications and settings. The best way to find out what works best for you is to experiment. Try different indications, settings, and dates and see what results you get.

With a little practice, you can use ChatGPT and Bard to create quality real estate content that will help you reach your target audience and grow your business. This is an example of what we created using Suburbtrends data for a Newcastle rental market update. If we find bugs or get feedback, we'll underline them so we all know what to look out for when using Command Prompts in the future. If this content proves popular, we'll introduce directions for optimizing the result and provide tips on the process.

Rents on the rise in Newcastle - houses and units are rising steadily

Those looking to rent property in the vibrant city of Newcastle, New South Wales should expect average rents to rise significantly. Recent data shows a steady increase in rental costs for homes and units, painting a challenging picture for renters and offering a promising outlook for landlords and investors.

Starting with houses, the median rental price in the Newcastle area in April 2022 was $470. After a brief period of stability in May, the market gradually rose, reaching $480 in June.As the summer heat set in, rental prices skyrocketed to $490 in August, followed by a notable jump to $500 in September. This level remained stable for the remainder of the year until January 2023, providing temporary respite for those seeking housing. However, the new year brought renewed increases: prices hit $510 in February and hit $520 in March. Until April 2023, the median home rental price in Newcastle was stable at US$520, an overall increase of US$50, or about 10.6%, from April 2022.

Meanwhile, the unit rental market in Greater Newcastle showed a similar trend. In April 2022, the median rental price for residential units was $480. May and June saw incremental increases to $490 and $495, respectively. However, it saw a slight drop to $495 in July, only to recover stabilizeto $500 in August. Starting in September 2022, unit rental rates have been stable at $500 through January 2023, giving tenants a period of stability. However, prices experienced a significant increase in February, rising to $510, followed by another rise to $520 in March. These elevated rental rates were flat through April 2023, an increase of $40, or about 8.3%, from April 2022.

These upward trends in home and unit rental prices indicate a resilient property market in Newcastle, NSW. Rising costs could be an indication of increased demand for rental properties or a shortage of supply. Securing affordable housing in the city is challenging for renters, while potentially lucrative opportunities exist for homeowners and investors.

Regardless of whether you are looking for a home or a unit, it is important that potential renters stay informed about these changes in the market. Our team will continue to monitor these trends and provide updates on the dynamic rental market in Newcastle, NSW. As the city's real estate landscape evolves, both tenants and real estate stakeholders must navigate the changing rental market with awareness and strategic planning.

Vacancy rates in Newcastle: fluctuations and stability

The latest data on vacancy rates in Newcastle, NSW SA3 provide valuable insight into the supply and demand dynamics of the rental market. From April 2022 to April 2023, these rates fluctuated, revealing both periods of stability and changes in the availability of rental properties.

In April 2022, the vacancy rate at Newcastle SA3 was a low 1.27%, indicating a limited number of vacant rental properties. The rate fluctuated slightly in the following months, falling to 1.26% in May 2022 and then to 1.24% in June 2022.

During the year, Newcastle experienced a period of relative stability in vacancy rates. From September 2022 to January 2023, rates ranged from 0.88% to 1.37%, suggesting a constant balance between rental supply and demand over the period.

However, a notable turnaround occurred in February 2023 when the vacancy rate fell to 1.14%, indicating a potential shortage of available rental properties. This trend continued through March 2023 with a slight increase to 1.15%, followed by a significant jump to 1.49% in April 2023.

The key takeaways from this data point to a volatile rental market in terms of available vacancies in Newcastle, NSW SA3. The first months ofanalyzedInterest rates have been relatively stable over the period, suggesting a balanced market with limited volatility in rental supply. However, the downward trend in vacancy rates observed in February and March 2023 indicates a possible increase in rental demand or a decrease in the number of available properties.

The significant increase in the vacancy rate in April 2023 could signal a shift in the market and potentially offer more options for prospective tenants. However, further monitoring is needed to determine if this increase is a short-term anomaly or a continuing trend.

Keeping a close eye on vacancy rates is crucial for both tenants and owners in order to navigate the Newcastle rental market. These percentages provide an indication of the availability of rental properties and can be helpful in making decisions about leases, rental rates, and investment strategies.

As the leasing landscape in Newcastle continues to evolve, it will be crucial to stay informed of these trends in vacancy rates in order to make informed decisions in Newcastle, NSW SA3's ever-changing leasing market.

Finding an apartment to rent in Newcastle: Suburbs with vacancies

The latest Newcastle rental data provides important information for those looking to rent in the area. Here are some highlights:

1. Newcastle – With 19 vacancies, the central suburb offers options, though the competition is likely to be fierce.

2. Fletcher, NSW – This suburb has 14 vacancies and offers its fair share of rental opportunities.

3. Merewether, Hamilton (NSW) and New Lambton: There are 13 vacancies in each of these suburbs, indicating good rental availability.

4. Wallsend and Birmingham Gardens: With 12 and 10 vacancies respectively, these suburbs offer a good chance of finding a place to rent.

5. Other suburbs: Adamstown, Cooks Hill, Stockton (NSW), Waratah (NSW), Mayfield (Newcastle - NSW), Shortland, Adamstown Heights, Wickham (NSW), Islington, The Hill, Kotara and Mayfield East have vacancies other than 9 to 5. Although the number of vacancies is lower, they still offer opportunities for renters.

Overall, the data highlights Newcastle's highly competitive rental market with limited vacancies in most suburbs. Potential renters should act promptly and consider exploring several suburbs to increase their chances of finding a suitable rental property.

The 10 most expensive suburbs to rent a house in Newcastle:

1. Hamilton Is: $950

2. Merewether Heights: 895$

3. Newcastle Is: $850

4. Hamilton On: $800

5. Merewether: 750 $

6. Adamstown Heights: $675

7. South Quarter, The Junction, Fern Bay y Georgetown: 650 $ (festival)

The 10 cheapest suburbs to rent a house in Newcastle:

1. Sandgate, Fullerton Cove: $400 (sin consolidar)

2. Birmingham Gardens, Hexham, Woodberry: $450 (with destination)

3. Glass: $440

4. Newcastle Oeste: 480 $

5. Short Land: $485

6. Jesmond, Beresfield: $490 (empate)

7. The Hill, Bar Beach: $500 (sin consolidar)

A key highlight is the striking variation in average weekly rental prices across the city, highlighting the diverse range of living experiences Newcastle offers. At the high end, Hamilton East tops the list with a median rental price of $950, presenting itself as a prime suburb for renters willing to pay a premium for their apartments.

Merewether Heights and Newcastle East are also prime suburbs, with median rents of $895 and $850 respectively, creating strong demand in these areas.

At the other end of the scale we find the cheapest suburbs. Sandgate and Fullerton Cove are the cheapest cities, with average rentals of $400 per week. Other suburbs like Birmingham Gardens, Hexham and Woodberry follow close behind with median rents of $450 per week.

It's also worth noting that several suburbs like Kotara South, The Junction, Fern Bay, and Georgetown all have the same median rental price of $650, underscoring the consistency of rental prices in these middle-class suburbs.

These data provide a valuable overview of the Newcastle rental market and highlight the wide range of rental options in the city. Whether potential renters are looking for luxury, economy or something in between, Newcastle's various suburbs offer a variety of options for different lifestyles and budgets.

The 10 most expensive suburbs to rent housing units:

1. Adamstown Heights, Newcastle Este: $650 (tie)

2. Maryville: 640 $

3. Wickham, Hamilton South: $600 (standing)

4. Newcastle, Fletcher: $590 (empate)

5. Newcastle Oeste: 570 $

6. Broadmeadow, Carrington, Islington, Bar Beach, Cooks Hill: 550 $ (en efectivo)

The 10 cheapest neighborhoods to rent homes:

1. Back: $240

2. Birmingham Gardens, Sandgate: $350 (base)

3. Mayfield West: $360

4. Lambton North: 380$

5. Thigh Hill: $390

6. Stockton, Georgetown, Mayfield, Tarro: $400 (empate)

7. Beresfield: 415 $

8. Jesmond: $420

9. Waratah, Waratah Oeste: $430 (empate)

10. Cordero: 450 $

The difference between the most expensive suburbs and the cheapest to rent apartments in Newcastle is remarkable. Adamstown Heights and Newcastle East lead the residential rental market with an average weekly rental of $650, reflecting their high demand and potentially the quality of available housing.

On the other hand, Woodberry is the cheapest suburb with a median weekly rental price of just $240 per unit. This is well below the city average, suggesting the city could be a hotspot for renters looking for affordable options.

Mid-range suburbs like Broadmeadow, Carrington, Islington, Bar Beach, and Cooks Hill share a median weekly rent of $550, and offer relatively affordable options without compromising on lifestyle amenities.

Taken together, these figures underline the diversity of the rental market in Newcastle, catering to a wide range of budgets and lifestyle preferences. The range of rental prices means potential renters can find a suburb within their budget while enjoying the benefits of living in Newcastle.