All Topics / Help Needed! / Growth stats – Residex

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  • Profile photo of amcewinamcewin
    Participant
    @amcewin
    Join Date: 2011
    Post Count: 8

    Hello,

    I recently declined a IP purchase in Adelaide as when I got a Residex report, it predicted growth to be 0-2%.

    I am interested to know other peoples views on the accuracy of Residex growth forecast (bearing in mind that it is a forecast!).

    I am looking for a growth property in Adelaide between $350-450k. Can anyone recommend a good report which predicts growth like Residex but for Adelaide as Residex seems to exclude SA?

    Many thanks

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    I never put too much thought into the residex growth indicators. The reports are excellent for their comparable sales data – to have a quick snapshot of sales of similar properties within the area is excellent for due diligence and negotiating.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of fredo_4305fredo_4305
    Participant
    @fredo_4305
    Join Date: 2009
    Post Count: 336

    How long was the forecast for 6 months, 12 months???

    I thought the SA market was one of the markets suppose to be on the up in the not to distant future.

    I think all markets are relatively flat at the moment.

    Profile photo of amcewinamcewin
    Participant
    @amcewin
    Join Date: 2011
    Post Count: 8

    The forecast was for 5 and 8 year growth p.a. The report was for the suburb of Adelaide only.

    I also spoke with Residex to validate their estimate and they based it on recent quarter, new housing construction, job creation/employment, population growth etc

Viewing 4 posts - 1 through 4 (of 4 total)

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