Price Finder Sales Estimate

[sumterrence]

Do you guys find it accurate when compare with say RP Data?

According to one of the property that I bought in QLD, the price estimate seems to increase by about 10k every week....and if base on this figure I'll be looking at at least $100k capital gain within weeks already?

 

[D.T.]

Really depends on the area, it's current market state and also what sales have been there recently.

I have properties it it either over or under estimates due to factors above, so I'd say the short answer is 'no'.

 

[Phiber]

I have found it to be accurate, but cannot compare with RPdata.
You have to be careful when there are big variances within the suburb though: say for instance one that has waterfront properties as tends to put things off balance.
Also be careful for properties with 5+ bedrooms or massive lands.

Overall I have found it to be very accurate however.

 

[knightm]

Do you guys find it accurate when compare with say RP Data?

According to one of the property that I bought in QLD, the price estimate seems to increase by about 10k every week....and if base on this figure I'll be looking at at least $100k capital gain within weeks already?

Your issue is likely to be caused by several recent local sales that were slightly higher and are progressively being caught up in the algorithm. If you go into the comparable sales and delete any that look to be not so comparable (either because they are better or worse, or bigger or smaller) or a long time ago then you will increase the accuracy of the estimate.