Demographics and such info

From: Apprentice Millionaire


Hi all!

Where would I find info on a particular suburb, such as rental vacancy rates, demographics, etc. Michael Yardney spoke at his seminar about building a comfort zone in an area, or what I would call an area of expertise (I actually want to stretch out of my comfort zone! :).

So where do people get that info? Is it available on the 'net? Does one buy expensive books with the data?

Any info/advice/recommendation/hint/pointer welcome!

Thank you!
Cheers
Apprentice Millionaire
(aka Jacques in the old forum)
 
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Reply: 1
From: Michael Yardney


One place you could find some of the demographic information is domain.com.au. Look up a suburb and they will tell you a bit about the population, who they are what they earn etc. You can also get historic price data from them.
I'm glad you are stretching your comfort zone
Michael Yardney Metropole Properties
 
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Reply: 3
From: Rolf Latham


Hi AM

In NSW and QLD, Residex provides some good data on rental rates, capital growth rates, and price pointers for individual properties.


Ta

Rolf
 
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Reply: 3.1
From: GoAnna !


A M

I think you really need to get out there on the street. Go to auctions. Watch rental lists and see which ones are moving and which not and for what rent. After a while you become pretty clear on what the standard rent for a one bedroom, two bedroom etc is. Which are the prime spots within the suburb? Rents and prices can vary so much within a suburb and so can the growth. If you know for instance that a one bedroom flat is generally sold between 95K and 120K with a 6% rental return then you know to snap up the flat selling for 85k with a current return of 7.5%. When you understand the market the bargains just jump out at you and you can't reach for your cheque book fast enough. I know because I just found one tonight and I am trying to track down the owner before some-one beats me to it!

Anna (you have met me now and you know I would never lie ; )
 
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