As per title.
Basically the idea is if properties in a suburb are generally sold within 10-20 days of being advertized, then that’s a sign of good demand, and likewise, if properties in a suburb usually takes more than 30 days to sell, then it might not be a good suburb to look into.
But I have been unable to easily find such data. Anybody able to advise?
StevenSarahParticipant@sarahlouiseJoin Date: 2017Post Count: 10
Have you tried gethousedate.com.au? I’ve used it long back to try and find the listing date of a rental property ….
So this is different for sales to rental to commercial leases etc.
so for e.g. I prefer a hold strategy so i personally care more about rental demand and growth, than current selling times.
just because they are selling quick does not always mean demand will be there in a couple years, the mining boom was a great example of such.
Yes, but if the strategy is trading properties, then how quickly the properties are sold becomes a good indicator, because the idea is a 3 step process:
1. Buy property under market value
2. Do some refurbishment (cosmetic only, nothing structural)
3. Quickly sell it
So in this case, then you definitely do not want to buy a property in an area where properties are advertized on market for months and months without successful sales.
As for buy and hold, I totally agree this strategy will not apply.
OK, now that we have established this fact, just wondering if there is a way for me to find those information (without have to pay every time I want to find such information)?
I tried the URL Sarah suggested, however, problem with that is it only works against those they are currently listed, rather than those that are already sold. Still useful, just thought it’d be good to be able to have a tool or a website that can list the same for sold ones instead of “currently available listed” ones.BuyersAgentParticipant@knightmJoin Date: 2005Post Count: 338
Pricefinder and RP Data are the best tools for this job. You get current days on market and historical price changes which are invaluable for heavy negotiating. Yes there is a cost but 1 good deal can easily pay for the data 20-40 times over. I coordinate national group access for both (fully authorised – each user gets own login and no shared logins, blackout times, usage limits or shady deals) cheapest in the country that I know of.guestParticipant@guest84Join Date: 2017Post Count: 1
Not sure if you have proceeded with your plan yet,
but I can see a problem with what you’re hoping to achieve.
You say you hope to buy under market value to reno and flip, but you are trying to buy in a popular area where the demand is high.
Agents will advise owners not to sell cheap as they know there are plenty of buyers out there. This will make it very hard to get any sort of discount to allow enough margin for reno costs and sale costs.
Good luck with it all…
Yes that does happen – You can find off the market properties using rpdata and the like These types of programs let you “be in the know” so you don’t overpay for your property. Honestly, it can save you thousandsBuyersAgentParticipant@knightmJoin Date: 2005Post Count: 338
Just bumping this old thread. I run groups with authorised nationwide access to Pricefinder and RP Data currently. Email or call me if required.