The LIVING KEY Assessment and Rating Tool is a web-based algorithmic interactive software program that assesses and rates the liveability and sustainability of residential properties. It is unique in that it integrates, in one system, the key elements and criteria which combined provide a quantifiable measure of the social, economic and environmental sustainability of properties and applies an assessment score based on the optimal performance which can be achieved in any criteria.
The technology is centred on detailed algorithmic computations drawing on an extensive data-base of property and building components which are applied across all criteria and which can distinguish and normalize the extensive diversity and complexity of inter-related elements of properties.
Each category is allocated a maximum of 10 points which are distributed across the assessment of each criteria. The percentage distribution for each criterion is based on empirical and published data – e.g. overall energy or water consumption of properties; type and proximity of shops, schools and medical facilities; Liveable housing criteria etc.
A unique feature of how the assessment is calculated is that it rewards and rates the performance outcomes against an optimal score. A property that achieves 10 points in any category is awarded a 10 star rating, which is termed the optimal performance outcome.