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
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 MeMortgage Broker assisting clients Australia wide Email: [email protected]
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.
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
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