Why would an owner occupier or an investor need comparative property sales data?

Why would a consumer, a buyer, a seller, an owner occupier or an investor need comparative sales data?

1. So a buyer can understand the market worth of a property when they intend to purchase. So they can buy at market worth or preferably buy below market worth and get a good deal. No buyer would want to pay over market worth deliberately.

2. An owner occupier or investor when they want to have their property valued. This could be for refinancing purposes.

3. An owner occupier or investor conducts a property asset review e.g. annually. To assess the property growth over time. Every owner wants to know what their property asset is worth. This information can be used in an asset and liability statement and they can understand what their financial status is.

4. A seller will be provided with a comparative market analysis by the Listing Agent. So the seller can have a realistic understanding of market worth and how to market the property.

5. Buyers or investors who are researching a specific suburb and specific property type e.g. 4 Bed, 2 bath B & T house on 500sqm lot, single residential. Most buyers will focus on one or two property types and not just buy any old property.


So they need specific sales data for comparative sales data analysis.


When your lender or bank values your property they only look at comparative sales data.

Compare apples with apples. e.g. compare 4 Bed, 2 bath B & T house on 500sqm lot, single residential. ( the lot size may be in a realistic range e.g. 450sqm to 600sqm and still be single residential)

All other suburb sales data is irrelevant.
Is sales data for villas relevant? No.
Is sales data for 3 bed, 1 bath brick veneer and tile houses on 1000sqm and duplex potential relevant? No.

That would be comparing apples to pears.

In general what sales data can buyers, owner occupiers and investors find for free?

Median price suburb growth data. Oh no..

This is the whole of suburb data and will include all dwelling sales.
It can often be skewed, can be misleading and deceptive.
Useless information.

So where can investors obtain affordable comparative sales data?

It is not easily obtained from State Government Departments or data resellers. It can be very high priced from resellers or you require a very expensive subscription.

Access to comparative sales data should be easy and affordable for all consumers.
If I research a property I would not rely on the selling real estate agent for data as they contractually legally obligated to act in the best interests of the seller. Do don't trust the selling agent who of course will always talk it up. I want to conduct my own research and my own negotiation so not rely on a real estate buyers agent for the data and service.

Surely it should be easy and affordable for members of the public to get sales data?


Anyone got any ideas where to purchase affordable data?
 
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