There are a number of places that for a fee provide reports on all aspects of property investments such as statistical data including median house prices, capital growth over various historical periods, projected capital growth for the future, maps showing capital growth by suburb, median rents, rental return and vacancy rates.
Has anyone purchased these reports? They range in price from $40 to $200 and in the description they sound informative. Are they worth it?
Thanks
Karan.Karan, I make it a habit of getting spreadsheet reports on past sales in a city before I go there and buy.
I then delete all the columns I don’t need and arrange the data in several ways (by sale price, suburb, type of property, etc). I then go to an internet cafe and print what I want on their laser printer.
Then it’s time to spread the sheets over the floor, look at them, staple them together, highlight properties similar to what you want, work out average sale prices, etc. In conjunction with rental lists (free from REAs) you can get a rough idea of yields to expect.
The aim of all this is to get a feel for what is a bargain, good value or overpriced, especially if you visit recently sold properties. This will allow you to evaluate what agents tell you and help you draft your offer. Also you will be able to identify the cheap areas and the expensive areas (and better still finding a cheapish property in a ‘good’ suburb)!
The stats are not perfect, and a lot can change in a few months. But for the $30-50 I’ve paid, I consider it money well-spent.
Peter
Care to tell us which company sells these reports for $30-$50?
Try home price guide
http://www.homepriceguide.com.au/Or residex
http://www.residex.com.auCheers,
Herve.
Thanks Peter. I was thinking more towards getting inside information on what areas to invesigate in the first place but of course that is only part of the research needed hey.
Ian, another web site is http://www.propertyvalue.com.au.
Thanks Herve for your web sites. I hadn’t found them.
Regards,
Karan.
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