Which methods do you use to research a market for past sales, vacancy rates & rental data?
I know I can buy past sales data from the Land Titles Office in Adelaide (but it is very summarised). Are there better sources which are not too expensive? I don’t want to spend all of my deposit money….
And what about the rental vacany data?
I may find a good looking deal in a town. So what do I do next.
I realise once I spend some time initially visiting the town, looking at properties, speaking to agents & PM’s that I should get a good feel for the numbers.
But is there something I can do from my office or city first before getting in the car and heading out for a day or two.
Thanks,
David Paxton
New Homes Consultant
Sterling Homes
0412 853 395Hi Dave
Give a Property Manager or two a ring and ask them what the rental situation is like in the area you are looking in.
Also ask them about the good/bad areas of the town, streets to keep out of etc etc.
I know of one PM who told a forumite that there were a few streets in a town that she would not handle rentals in.Also get REs to fax through information on houses you are interested in.
If looking in NZ you can download or print off info about places from the http://www.realenz.co.nz site
Regards
Muppet’s right,
A good PM is a goldmine of information. If you can manage to talk to one when there isn’t a salesperson looking over their shoulder you should get the real facts. They should also be able to let you know what makes a difference. In some places a garage will make a difference to the ease of renting (and the weekly rent) in others it won’t. In some towns the renters want units in others they’ll want 3br houses. A good PM will tell you this.
Rod.
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