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Bullmarket
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@bullmarket
Join Date: 2007
Post Count: 51
March 13, 2010 - 2:40 am
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SHales
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@shales
Join Date: 2007
Post Count: 325
March 14, 2010 - 1:31 am
rpdata. Download the suburb sales report, cross off the houses that don't match (eg too many bedrooms) and go for a drive to look at the others (or some of them). You really don't know until you've been there. You don't know what the house looks like, or what it is next to, or what the road is like, the rest of the surburb. There just is not substitute for going there and having a look. Say there are three 4 bed 2 bath homes listed in the report, and they seem similar online. Going for a drive reveals that one is a high set fibro across the road from a public housing house which doesn't look good, one is a restored qlder and has a massive $50K shed built in the back yard and one looks like a 10 year old brick family home. Perhaps google earth could be used, but it is not really timely enough for this purpose. You can't beat going for a drive, and in terms of making mistakes with the purchase of RE, going for a drive is normally pretty affordable.
All of the statistics on line that you keeping showing us John are useful, but I always have the concern that they are to be used for identifying existing trends, the booms you've missed.
Where are, what are the drivers of population growth, what determines where the new people will want to live and how do you identify major projects which have the potential to change a local economy before they hit the major news media?
Bullmarket
Participant
@bullmarket
Join Date: 2007
Post Count: 51
March 14, 2010 - 6:12 am
Hi S Hales
Re physical inspection of the suburb, street and property is important. However I would conduct alot of due diligence and research before I inspected the property
see Due dilgence
At a minimum check out the sewer position, any road changes planned eg widening or bus stop outside front door etc and some other critical info before I inspected the property
Some of this research can be conducted online using digital imaging software. Check out the lot shape, size, dimensions etc see
Digital Mapping Solutions. Intramaps Public Edition http://www.mapsolutions.com.au – see public free edition
Google Maps http://maps.google.com.au – free service
RP Data http://www.rpdata.net.au – paid service

Also check out the listing information and photos online. Check out the property information online using a state gov supplier or reseller.

Do some sales data analysis before you inspect. If the property is overpriced and the vendor is not willing to negotiate on price there is no point in inspecting the property See

Property Sales Data Level One – objective data and can be assessed online
Property Sales Data Level Two – subjective data and will require some desktop analysis and some inspection

I do have access to other information about drivers of growth but did not want to bombard readers with info. Anyway here is some specific and detailed research information below.

Re Drivers of Growth
Check out this information which may be useful :

See the full information here Drivers of Property Growth in Australia

Depending on the Economist, commentator or individual investor it is debatable what are the most significant drivers of growth, moderately significant or least significant?

What do you think is important?

Any major or minor projects are approved by State Gov and Local Gov Area (LGA) authorities years in advance.
If an investor wants to keep their finger on the pulse monitor State Gov and LGA development plans. An investor could be way ahead of the pack just by knowing where to find information and keeping well informed. Power to the researcher! see

National, State, and Regional infrastructure development projects.
Local government infrastructure development plans

Looking at the big picture readers may want to ask the question?
where does Australia rank in the global economy? or check out global economic factors

I have an idea

Why not select a specific suburb somewhere in Australia and conduct an analysis on this suburb
Using online research and desktop analysis

The readers can decide what to research and why?

This could be alot of fun for the readers of this forum?

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