Residex "Best Growth Metro (Top 100)" - worth it?

[piNoob]

Hello,

Someone suggested this report in another unrelated thread, so I though I might ask for opinions on the subject in a separate thread.

Anyone ever bought this report from Residex? Is it any good?

It ain't cheap, I think $215, therefor my post. As I'm planning to buy in Brisbane area rather soon, I think it could help me narrow down suburbs for me?

Also, is it tax deductible by any chance?

Thanks.

 

[BV]

PiNoob

I think they are useful when you are not familiar with an area
or when you can't find past performance of particular suburbs.

Predictions are generally based on past performance
so have this in mind when you are doing your research.

I am not an expert on taxation but if you are already a property investor
the expence would be tax deductible, otherwise to my knowledge it's not.

As an alternative, major newspapers often print out property guides.
Here is the 2007 Sydney property guide
warning, it's 7Mb
http://www.domain.com.au/content/fil...pGuide2007.pdf

Cheers

 

[FrankGrimes]

I would be interested in seeing some of residex's past predictions vs actuals.. Probably doesn't exist but would be interesting to see

for $215 I don't think you can really go wrong though, considering you're going to spend $1000s on an IP. It should give you some suburb ideas which you can focus your search on.

I have seen their Sydney predictions and I personally agree with their top 2....

 

[markp]

If you think about it this could become an investment strategy. Simply buy into hot high growth suburbs. Careful selection and permanent retention are needed but reports like this make it so much easier.

cheers
Mark

 

[Shadow]

I subscribe to the normal quarterly Residex report, which has historical statistics only.

The suburbs that I'm looking at right now are in the Sydney Northern Beaches area and I can get a five year growth forecast for these suburbs (for free) from the Manly Daily Property guide. The Manly Daily gets it's data from Residex in the first place! Saves me having to pay for it

Back issues are on-line here... http://property.manlydaily.com.au/

I purchased one of the Residex postcode reports once, which provides detailed past sales data, historical growth and 3, 5 and 8 year forecasts for an individual postcode, but I didn't think it was worth the money ($95). I'll just stick to the standard quarterly residex report from now on.

Cheers, Shadow.

 

[MelbEngineer]

This site is good for basic free property reports:

www.propertyvalue.com.au

 

[tubs]

I got the Brisbabe report. Expensive yes, but if it helps you buy a house that's going up 1% faster than another suburb, it could be worth $3000 in the first year alone.

You spend up to $20k on stamp duty, fees and charges alone. What's a couple of hundred for a report.

BTW the prediction reports statistically report expected growth over 5 and 8 years. The other free reports only give you what happened previously, which is not always an indicator of what WILL happen next. Plus, its got median rents as well, so it can be a really quick way of working out what suits your strategy, especially if you dont have much time.

Everyone says research, research, research and I think if you're fair dinkum, sometimes you have to spend money, especially when so much is at stake!