CG reports.

[X-gen]

Hi all,

I was just wondering if there are any reports or anywhere I can go to get the CG figures of suburbs in OZ over the last year and/or over the last 7 years or so.

I have access to RPdata, however I'm not sure how accurate the CG figures are.
I take it the numbers would be skewed and inaccurate if there are only few sales in an particular area. correct?

Is there anywhere else I can find more accurate data which does take into account amount of sales + removes the top/bottom say 5% for an more accurate medium range?

cheers

x-gen

 

[Propertunity]

Is there anywhere else I can find more accurate data which does take into account amount of sales + removes the top/bottom say 5% for an more accurate medium range?

Hi x-gen,

rp data's hedonic index is supposed to do what you are after. You can read about it here: http://www.rpdata.com/news/rp/20070508-1.html

Also Residex www.residex.com.au has a method that tracks resales of the same house over time.

They are all trying to achieve statistical nirvana which I'm guessing is also your quest.

But at the end you are only looking backwards in time. This is fine based on the theory that if something has done something in the past it will continue to do that same thing into the future (or at least there is a greater probability of it doing so) which I guess is fair enough - but as a baby-boomer song lyric goes "it ain't necessarily so".

If you have a read of page 12 of the July 2009 API Mag, there is a 2 page article on exactly your Q.

 

[X-gen]

Propertunity

Propertunity,

Thanks - didn't realise that was the method they utilised.

Just out of interest, as a buyer's agent, i'm assuming you would have streamlined your DD process by now.

Is there any 10 second rule (or 1 minute rule ) you use as an initial screening on properties for the purpose of identifying possible CG prospect. This can be on paper or when inspecting the property.

The reason I ask is that I don't have a great deal of time to go to so many open's and would prefer to shortlist initially.

I have in the past just driven by an area if i'm not familiar with it just to see if I would personally live there.

Cheers,
x-gen

 

[Propertunity]

Propertunity, Thanks - didn't realise that was the method they utilised.

You're most welcome.

Just out of interest, as a buyer's agent, i'm assuming you would have streamlined your DD process by now.

Ah yes - you get very good at doing things when you do them over and over....

Is there any 10 second rule (or 1 minute rule ) you use as an initial screening on properties for the purpose of identifying possible CG prospect. This can be on paper or when inspecting the property.

Yes, yes there is and this would be done long before you hopped into your car and drove to an Open I assure you. Virtually all properties in a particular suburb will move in line with that suburb's CG.

The reason I ask is that I don't have a great deal of time to go to so many open's and would prefer to shortlist initially.

Sounds like you should hire a BA You really should pick a suburb or suburbs first for CG past / potential future......and then go down to the micro level of a street or a house within that street. Kinda like zooming in from Google Earth.

I have in the past just driven by an area if i'm not familiar with it just to see if I would personally live there.

That is one way to do it and it would be a very effective way too IF CG was a function of whether you "would personally live there" - which it isn't

 

[X-gen]

That is one way to do it and it would be a very effective way too IF CG was a function of whether you "would personally live there" - which it isn't

Well what I was trying to convey is that i'd drive through and if the house was in a bad area that I personally wouldn't ever consider living in, then there is a greater chance that others would feel the same way. No?

 

[travelbug]

Some people have their whole portfolio in areas they wouldn't dream of living.

I wouldn't want to live in an area with a house under $500K but I can't afford to invest in those areas. Plus that's not where the money is to be made.

You are limiting yourself if you only want to buy things you would live in.
I want to buy where I can make money. There are plenty of people who live in low end housing.

 

[Propertunity]

Well what I was trying to convey is that i'd drive through and if the house was in a bad area that I personally wouldn't ever consider living in, then there is a greater chance that others would feel the same way. No?

I understand where you are coming from.....and you'd think so - yes.

But I am speaking from experience. A few short years ago (2003/4), I flew to MEL to check out North Frankston. It was not a place I would have considered living in personally or raising my family in. Houses were $130K. I flew back home and relayed my feelings on N. Franger as a potential investment area - NOT!

Today those same houses are selling for $230K.

So this strategy of "would I personally live there?" cost me $100K

So my advice to you (and me) is to take travelbugs advice. Think about whether you are in the PI game to make money or to have a nice collection of houses that you'd be happy to live in

 

[X-gen]

travelbug - thanks for the logical response.

Propertunity - geez when you put it that way....
although it would be nice to have a collection of 'nice' houses

 

[BayView]

That is one way to do it and it would be a very effective way too IF CG was a function of whether you "would personally live there" - which it isn't

This is so true.

For example; my SIL lives in "The Pines" in North Frankston.

No way I'd live there these days (would do if I had no choice though) and she has experienced a 100%+ appreciation on her house since she bought it a few years ago.

Same with our purchases in Kalgoorlie back in '02. We were told we were mad to buy there; middle of nowhere, hot etc.

By the way Propertunity, just thought I'd take this opportunity to congratulate you on the tremendous input you have provided on SS over the last 12 months since you joined.

Thankyou, and kudos sent.

 

[Propertunity]

By the way Propertunity, just thought I'd take this opportunity to congratulate you on the tremendous input you have provided on SS over the last 12 months since you joined. Thankyou, and kudos sent.

Thank-you very much BayView. Property investing has been very good to me over the years as has this SS forum, so time to give back a bit. Cheers.

 

[our obsession]

X-Gen, another source is each Oz State Valuation Office.

I have some Victorian data for you, link:

http://www.news.com.au/heraldsun/files/median house prices by suburb.pdf

It has much of Victorian metro/suburbs/regional cities/towns changes, (from 1997 to 2007) it also has an average of each place's Growth Per Annum.

There is a thread here, btw it also has some other interesting and resourceful links:

http://www.somersoft.com/forums/showthread.php?t=45620

I have also, (paper only), data, (again from the Victorian Valuer-General's source), for the period 1994-2005. If you want it's no hassle to snail mail it to you, drop me a PM with a mail address (if u want).

That would give you a reasonable historical resourve of Vic prices from 1994 to 2008.

OR//

Further prices can be obtained here:

http://www.land.vic.gov.au/Land/lcn...01DAC6F-4FF5582EDD1DD6B9CA256E5F0014C0EE?open

I require median prices over the last 10 years. Is this information available?

Yes, this information is available for through Property Information and Sales for subscribers via LANDATA®.

Where can I research trends, property prices and forecasts of residential, commercial, industrial and rural property sales statistics?

Through Online Services Property Sales Information (PRISM) for registered subscribers. To subscribe, contact Landata on (03) 8636 2456 or email [email protected]

Where can I purchase the publication “A Guide to Property Values”?

You can order your copy on-line or email [email protected] or phone (03) 8636 2456.

Can I access information on the Internet about the Annual Property Sales Statistics Publication?

The Guide to Property Values is the most comprehensive and authoritative reference for all types of property prices including residential, commercial, industrial and rural. This annual publication shows property statistics across Victoria, which is produced using data obtained from Valuer-General Victoria, is available in hardcopy, CD or PDF format.

The guide contains many statistics tables and graphs, including 1985-2007 sales volumes and median and mean prices by local government areas/municipalities; 1996-2007 for suburb/township, 1985-2006 for number and total value sales for all residential, industrial and commercial transactions in rural and metropolitan areas.

I only have the Vic stuff, going and tracking interstate stuff does not appear to be quite as user friendly as the Vic Office, however I had a quick rat around and these sites maybe of help, if not a quick ring to each of them may? point you in true direction of Valuation Offices:

http://www.nrw.qld.gov.au/products/access_pricing/dig_data/vals_sales_info.html

Property valuation and property sales data
Print friendly version of this information sheet. (PDF, 92 kB)*
Valuations and sales data comprises property information on each rateable property in the State, and property sales records relating to transactions within the State.

Coverage
The property valuation and property sales data products are available for the whole of Queensland.

Data fields
Property valuations and property sales data consists of three products.

Property valuations data product
Sourced from the current administrative records for all rateable properties in Queensland, the property valuations data product contains details of Lot on Plan, Property address, Local government, Valuation land use code, Unimproved valuation, and Area. Following initial delivery rolling updates to the data are available twice a month. About 50% of Local Government Areas (LGA’s) are delivered twice a month while the remainder are supplied monthly.
Property sales data product
Sourced from the current sales records the property sales data product contains details of Lot on Plan, Property address, Date of sale, Sale price and Related sales key. Following initial delivery updates are available twice a month. The property sales data product contains sales records from the 1st January 2000 to the most recent update.
Historic property sales data product
Sourced from sales records prior to the 31st December 1999 and dating back to at least 1994, the historic property sales data product contains details of Lot on Plan, Property address, Date of sale, Sale price and Related sales key. The Historic property sales data product is a once off supply of data delivered on CD/DVD. This product is only available when acquired with a licence for the property sales data product.

NSW



http://www.lands.nsw.gov.au/valuation/online_services

Valuation Publications: http://www.lands.nsw.gov.au/valuation/valuation_publications

Valuer-General Media Releases: http://www.lands.nsw.gov.au/valuation/valuation_media_releases

(Perhaps getting a little sidetracked now, but doing no harm and is interesting reading for this property addict).

Tassie?: http://www.thelist.tas.gov.au/

Data access and pricing
About the LIST
LIST News
LIST Help
Policies and Strategies
Glossary
Related Sites
Contact the LIST



Land Information - Subscription Services
Title, Valuation and Property Sales Information. Payment by monthly account.
Land Information - Public Services
Title, Valuation and Property Sales Information. Valuation Adjustment Factors.

SA: http://www.landservices.sa.gov.au/FAQs.asp

Valuation
How is the value of property determined?
What's the difference between site & capital value?
Why has the value of my property gone up / down?
How do I object to my value?
Is there a cost involved?
What does Notional Value mean?
I would like to amalgamate my assessments.

History
How do I find the value of property of years ago?
Does the Lands Titles Office provide historical searching services?

 

[lisag]

Thanks for the links

Thankyou Our Obsession,
great links you have provided
LisaG

X-Gen, another source is each Oz State Valuation Office.

I have some Victorian data for you, link:

http://www.news.com.au/heraldsun/files/median house prices by suburb.pdf

It has much of Victorian metro/suburbs/regional cities/towns changes, (from 1997 to 2007) it also has an average of each place's Growth Per Annum.

There is a thread here, btw it also has some other interesting and resourceful links:

http://www.somersoft.com/forums/showthread.php?t=45620

I have also, (paper only), data, (again from the Victorian Valuer-General's source), for the period 1994-2005. If you want it's no hassle to snail mail it to you, drop me a PM with a mail address (if u want).

That would give you a reasonable historical resourve of Vic prices from 1994 to 2008.

OR//

Further prices can be obtained here:

http://www.land.vic.gov.au/Land/lcn...01DAC6F-4FF5582EDD1DD6B9CA256E5F0014C0EE?open



I only have the Vic stuff, going and tracking interstate stuff does not appear to be quite as user friendly as the Vic Office, however I had a quick rat around and these sites maybe of help, if not a quick ring to each of them may? point you in true direction of Valuation Offices:

http://www.nrw.qld.gov.au/products/access_pricing/dig_data/vals_sales_info.html



NSW



http://www.lands.nsw.gov.au/valuation/online_services

Valuation Publications: http://www.lands.nsw.gov.au/valuation/valuation_publications

Valuer-General Media Releases: http://www.lands.nsw.gov.au/valuation/valuation_media_releases

(Perhaps getting a little sidetracked now, but doing no harm and is interesting reading for this property addict).

Tassie?: http://www.thelist.tas.gov.au/



SA: http://www.landservices.sa.gov.au/FAQs.asp

 

[X-gen]

Our Obsession,

Thanks for all the links.

Much apreciated

Best Regards,
x-gen