From: Adam Randall
Hello
This weekends paper (adelaide) had the median house price listed by suburb (about 400), the percentage it had moved from last quarter, and the amount of sales in the area.
Several weeks ago I bought a full size wall map of metropolitan Adelaide down to street level (2.5m *1m), so I spent the entire weekend adding colour coded price stickers (6 price bands) with the price written on them as well as the amount of sales and the %change since last quarter.
I have also attached a small metallic green or red star next to each suburbs sticker, indicating wether the growth was negative or positive. I can tell you a picture is definitely worth 1000 words, I can see patterns, good value suburbs eg (1 suburb median 150,000 surrounded by 250,000 median price suburbs).
Next I am going to get a sample of 30 rents for each suburb, from that I will pick the median rent, I will write this next to the price as well as the median yield for each suburb. Realize people in Melbourne and Sydney would have to give up their day job to be able to achieve this, however I would highly recommend it at the very least an educational tool (it won't cost 15K either).
Regards Adam
PS anyone from Adelaide tell me why Windsor Gardens is so cheap (unless its next to a prison it can't be the location)
Hello
This weekends paper (adelaide) had the median house price listed by suburb (about 400), the percentage it had moved from last quarter, and the amount of sales in the area.
Several weeks ago I bought a full size wall map of metropolitan Adelaide down to street level (2.5m *1m), so I spent the entire weekend adding colour coded price stickers (6 price bands) with the price written on them as well as the amount of sales and the %change since last quarter.
I have also attached a small metallic green or red star next to each suburbs sticker, indicating wether the growth was negative or positive. I can tell you a picture is definitely worth 1000 words, I can see patterns, good value suburbs eg (1 suburb median 150,000 surrounded by 250,000 median price suburbs).
Next I am going to get a sample of 30 rents for each suburb, from that I will pick the median rent, I will write this next to the price as well as the median yield for each suburb. Realize people in Melbourne and Sydney would have to give up their day job to be able to achieve this, however I would highly recommend it at the very least an educational tool (it won't cost 15K either).
Regards Adam
PS anyone from Adelaide tell me why Windsor Gardens is so cheap (unless its next to a prison it can't be the location)
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