Information sources

The importance of good information / due diligence is obviously vital when considering an investment property purchase - as evidenced by a few posts here.

Now we can all go and pay for our own report from Property Value ...
but what information resources do realestate agents have access to? and how much does it cost them?
Where does information about rents come from?

regards, Andrew.
 
Side question

How good is the propertyvalue.com.au site? How useful is the information one gets in a property report or a suburb report?

TheBacon
 
Dear TheBacon,

How good is the propertyvalue.com.au site? How useful is the information one gets in a property report or a suburb report?

It really depends on what you are looking for.

For a specific individual property I find that at $30-40 it is very good for giving an independent view on what the actual property value is based on previous sales and similar sales in the area. It also shows you the actual previous sales price for a specific property in the last 12 years. This is good when understanding sometimes where a seller may be coming from. Additionally it shows sales prices of properties sold in the same or neighbouring streets from memory for the last 12 months.

It is not foolproof but you are getting an immediate online report instead of a $350 actual qualified valuer who sees the property exactly as it is on the day.

Overall I use it everytime I am serious about a property as a cost effective doublecheck.

For the suburb report it had more of a top 100 suburbs report. I found that I got less value out of this report.

Last comment. Good to find out for free the dates in the last 12 years when the property was sold.

Let me know if you need any further feedback.

Cheers,

Sunstone.
 
Originally posted by Sunstone
Last comment. Good to find out for free the dates in the last 12 years when the property was sold.

I would be interested to see this, however I could not find it.
Is this part of the sample reports, if so which one?
Do you need to register with the site first?

Thanks!
 
Dear Andrew,

No you don't need to register first.

Simply go to the front page and to the right where is says "View sample property report" enter the exact address of the property you are interested in.

You will then get taken into the report and if you scroll down then you will see "Previous Sales for this Property" which will show if the property has been sold in the last 12 years. (However it will not show if a property has been sold in the last four months as this information has not yet been sent across to the department of natural resources (or relevant government department in each state) to become public purchaseable information.

Let me know if you need any more help.

Cheers,

Sunstone.
 
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