Where does one find average rental yield per suburb data?
- Thread starter Kenny
- Start date
Kenny said:
For Sydney and Melbourne there is ... which isn't much good for me...
I'd also like to know of another source, that includes basically any postcode in Australia...
Thanks.
API alternates each month between House & Unit prices by postcode and then House and Unit Rental Yields by postcode... So at most you will have to wait a month for the latest data unless you're in WA or NT as these are not included.. You could try the local Real Estate Institute, but they might want to charge non-members a fee..
Michael Matusik made an interesting point in a earlier copy of API.. He suggested that rental yields may actually be a little higher than stated in many of these publications depending on how they are calculated..
If they just take average rental data and compare it against last quarters sales there could be a slight margin of error. He suggests that investors will normally be price sensitive, but owner occupier purchasers will be less so and as such may pay more for a given property than an investor would - thereby possibly affecting the sales data.
Imagine a plain old house which rents for $300pw. The investor buys it for $300k and the yield is 5.2%. An owner occupier falls in love with the house and pays $320k - now the yield is 4.88%. Same house, same rent, different yield. Following his argument yields should be more accurate in areas were there are lots of investors and less accuarate where there are lots of owner occupiers.
Hope that makes sense.
Greg
Michael Matusik made an interesting point in a earlier copy of API.. He suggested that rental yields may actually be a little higher than stated in many of these publications depending on how they are calculated..
If they just take average rental data and compare it against last quarters sales there could be a slight margin of error. He suggests that investors will normally be price sensitive, but owner occupier purchasers will be less so and as such may pay more for a given property than an investor would - thereby possibly affecting the sales data.
Imagine a plain old house which rents for $300pw. The investor buys it for $300k and the yield is 5.2%. An owner occupier falls in love with the house and pays $320k - now the yield is 4.88%. Same house, same rent, different yield. Following his argument yields should be more accurate in areas were there are lots of investors and less accuarate where there are lots of owner occupiers.
Hope that makes sense.
Greg
Kenny,
http://hnb.dhs.vic.gov.au/ooh/oohninte.nsf/frameset/Ooh?Opendocument
Link as per above DHS site. - Housing.
A similar report occassionally is listed in API. You might need to go back a few issues to find it.
Justin
http://hnb.dhs.vic.gov.au/ooh/oohninte.nsf/frameset/Ooh?Opendocument
Link as per above DHS site. - Housing.
A similar report occassionally is listed in API. You might need to go back a few issues to find it.
Justin
G'day Kenny et al,
For those that don't get API, try the Aussie Valuer (from Aussie Home Loans):-
http://www.eaussie.com.au/aussie_valuer.htm
I've found this site useful in two ways -
1. They give median yields by postcode
2. They give 5 years worth of data by postcode grouped in quartiles (i.e. highest 25%, middle 50%, and lowest 25%) which is far more useful than a straight median figure.
One thing that can be disconcerting (I'm pushing this issue to Aussie via email currently) is that Aussie DON'T give the relevant DATE of the data - they simply say that "data is current" (but, I KNOW it only changes quarterly....)
AND, the current graphs shown still show the data as 2003 (but, I've watched the data change quarterly over last year - they haven't yet updated the graphs to suit).
Hope it helps,
Regards,
PS They also LIMIT your access to the data - only FIVE requests per month allowed!!! But, if you have multiple email addys ............
For those that don't get API, try the Aussie Valuer (from Aussie Home Loans):-
http://www.eaussie.com.au/aussie_valuer.htm
I've found this site useful in two ways -
1. They give median yields by postcode
2. They give 5 years worth of data by postcode grouped in quartiles (i.e. highest 25%, middle 50%, and lowest 25%) which is far more useful than a straight median figure.
One thing that can be disconcerting (I'm pushing this issue to Aussie via email currently) is that Aussie DON'T give the relevant DATE of the data - they simply say that "data is current" (but, I KNOW it only changes quarterly....)
AND, the current graphs shown still show the data as 2003 (but, I've watched the data change quarterly over last year - they haven't yet updated the graphs to suit).
Hope it helps,
Regards,
PS They also LIMIT your access to the data - only FIVE requests per month allowed!!! But, if you have multiple email addys ............
dtraeger2k said:Thats a pretty sweet website... now only if it included more states
I'll go along with that!! Living in lil ole Tassie, we're used to getting used to being left off maps and web sites etc, so sad!!
Cheers
G'day d2k and SOS,
Why not break into print using the "Contact us" part of the site. I had an answer next day from Stephen Symonds - he seemed to be quite interested in my comments. Yet to see what changes... He did say that the data is sourced from elsewhere, but, as I'd suggested, Aussie should be able to twist an arm or two, in order to display what THEY want from the data.
Give it a go. Sorry, I hadn't even considered your point when I posted - (Hey, it worked for me)
Regards,
Why not break into print using the "Contact us" part of the site. I had an answer next day from Stephen Symonds - he seemed to be quite interested in my comments. Yet to see what changes... He did say that the data is sourced from elsewhere, but, as I'd suggested, Aussie should be able to twist an arm or two, in order to display what THEY want from the data.
Give it a go. Sorry, I hadn't even considered your point when I posted - (Hey, it worked for me
)Regards,
For anyone after this data for SA...... very handy.
http://www.familiesandcommunities.sa.gov.au/Default.aspx?tabid=104
ArJay
http://www.familiesandcommunities.sa.gov.au/Default.aspx?tabid=104
ArJay
Good point,
One of the reasons for wanting the data, apart from plugging into the Rental Reality (tm) formula; is to try to assess which areas are starting to recover in rental yield.
Anecdotal (read: from optimistic REA and PM's) evidence would indicate areas like Inner West Sydney and maybe some areas of the Eastern suburbs.
That's all well and good but I like more reliable indicators than that.
Anyone?
Regards,
Kenny
One of the reasons for wanting the data, apart from plugging into the Rental Reality (tm) formula; is to try to assess which areas are starting to recover in rental yield.
Anecdotal (read: from optimistic REA and PM's) evidence would indicate areas like Inner West Sydney and maybe some areas of the Eastern suburbs.
That's all well and good but I like more reliable indicators than that.
Anyone?
Regards,
Kenny
For sales & rental data about NSW, have a look here:
http://www.housing.nsw.gov.au/
They do an informative quartely sales & rental data report.
Cheers,
http://www.housing.nsw.gov.au/
They do an informative quartely sales & rental data report.
Cheers,
