www.onthehouse.com.au

[Aimjoy]

From an article on news.com.au - a free resource for sales data!

Data on www.onthehouse.com.au allows people to see how much houses have sold for in Queensland and New South Wales. Data from Western Australia, ACT and the Northern Territories will be rolled out within the next six weeks.

The data is being supplied from state governments, so there’s currently about a three month lag, but Mr Ingham-Myers says real-time data will be available soon. This will come from agents and private sellers who list their properties for sale on the site. Data from properties that sell from those listings will be fed into the sales reports to give more up to date information.

So far the site has property sales data going back 30 years for Queensland properties, while the NSW data goes back to 2004. Western Australia, ACT, and the Northern Territories data will be rolled out within the next six weeks.

Cheers,
Aimjoy

 

[poyner]

Wow, what a great website.

I just checked out one of our IPs located in Chermside QLD. I copied and paste the data to Excel and produced some graphs. The property is a 2 br duplex style house in a culdesac. There's about 30 or so properties in the complex and they're all fairly similar so it's not a bad data set.

Anyway, the website had 27 property sales for the street dating back to Aug 2003. Now as you can see in the spreadsheet, it appears the property has been growing at approximately 13 or 14% per annum since 2003. What do people think of this growth? sustainable? I think probably not in the longer term but where does that mean it goes from here? Will prices stagnate until the long term trend (7%) line catchs up (in 2012)? Or is it more likely to flatten for a bit then continue at around the 7% per annum level? Interested in your thoughts on the attached figures.

Cheers,
poyner

 

[ianvestor]

Damn, when I look at some of mine it's a miracle I got any extra growth out of them (because the people I bought from made so much).

eg. I bought a unit in Toowong start of 2007 for $256,000. Previous owner bought it at the start of 2005 for $150,000. They didn't renovate it either.

If it weren't for the fact that it's worth $290,000 now (still unrenovated), I'd probably cry seeing that.

Anyway I'm very much looking forward to using this site pre-purchase for my next ones...!

-Ian

 

[Gatoblanco]

Haha RPData

I am pleased that onthehouse is available because I feel that RPData charge too much. To subscribe costs loads and to get the MyRPData reports i.e. postcode search are overpriced too IMO.
I hope this website causes RPData to wake up.

 

[DavidMc]

I think it's a model that should be successful for them.

Provide sales data for free to attract advertising dollars through listings. I wonder what realestate.com.au will do in response?

 

[ianvestor]

I wonder what realestate.com.au will do in response?

What have they ever done in response? Not much.

 

[sparky23]

Brilliant resource, love it although some of the properties listed as residential I know were actually only blocks of land in one of the searches I just tried out. It can only get better though.

 

[WinstonWolfe]

agree it is a great resource, and I have told about 20 friends who are elated to get the data.......this is another step towards making the change of ownership of property a level playing field.....for too long, REAs have got in the middle and obfuscated.....more objective data and facts freely available, will lead the way towards an ever greater % of property being sold privately.

 

[Gatoblanco]

Yes bring on the private sales. I sold privately. I got eight different agents over to appraise the property then sold it privately. Agents commissions are way to much IMO.
If more people sell privately then more people will look for properties privately and that is what we need. There is not enough of a private sale mindset out there yet.

 

[kissfan]

Thanks for the link Aimjoy.

Another good resource tool.

Regards
Marty

 

[Muffinman]

RPdata is ripp off , laying out hundreds per month for limited areas is wrong.

As for realestate.com.au they would not care at all as there are dozens of little sites like that trying to get a bit of the action.
Realestate.com has a massive site map with thousands of backlinks creating a super strong search rating very hard to beat.
They are pulling in 6 million a year just off the advertising spam that floods their site.
I did read on another site that a person predicted that the site will start falling in the next 2 years .
The Evolution of Online Real Estate Communities
Already many agents are pulling away from the over prices fees and the % holding of ray white.


Gatoblanco yes true but when agents are constantly running the method down and claiming beyond figures DIY is always going to struggle sadly.
There just is not enough in DIY for sites to take rank on search engines as keywords are so competitive.
Real Estate now has the internet and FSOB /DIY needs to rise but this requires alot of funds to compete with the big players.

 

[Kevin Hockey]

Yes bring on the private sales. I sold privately. I got eight different agents over to appraise the property then sold it privately. Agents commissions are way to much IMO.
If more people sell privately then more people will look for properties privately and that is what we need. There is not enough of a private sale mindset out there yet.

Then don't pay it. As of this week you can now choose to sell with Go Gecko with a capped commission of $5950. Go Gecko in Cairns just opened this week.

Sorry, couldn't help but provide this shameless plug

I noticed this website this week too and I agree it now provides buyers access to invaluable information. Its effect will be interesting to watch.

RP Data provides a lot more info then onthehouse and their target market for clients is probably different too.

Not so sure realestate.com.au won't respond to this one. They have no intention of losing their position in the marketplace I'd suggest. I'm happy to see a true competitor to realestate.com.au, they're prices have been increasing steadily and they are now getting expensive.

Kev
www.gogecko.com.au

 

[Elkay]

Yes I found out about this website on Extra (5.30pm) Channel Nine today. Immediately I logged on to site and it was running slow so I daresay a million other people had seen the news also and were checking to see what their neighbours paid! It's fantastic, I had only been trying to get free access to RPData through my uni two weeks ago!

 

[Gatoblanco]

That is good that go gecko do a capped commission but that is still too much to pay to sell a Cairns unit.
I cannot understand myself why agents fees are so high. Yes- it is stressful to sell a house but why dont more people give it a go privately first?
Set a price you wont go below. Put an ad in the paper and some ads up at the shopping centre and the internet or whereever you want to spread the word and then deal person to person with the buyers. Everyone knows their own house so they can do their own sales pitch.
I would always investigate private sales to buy if that option is there because I can deal face to face with the seller and not have this 'information gap' caused by someone in the middle who has their own set of interests.
I can understand why people use real estate agents they do provide a useful service - to broker and advertise. However I think they charge too much for what they actually do. That is my opinion not the opinion of the market obviously otherwise prices of agents would have dropped a lot more.

 

[snoophound]

on the house

So what is the point of this?
Does it really matter knowing what someone paid for the property in the past?
Does it have a material impact on your sales negootiations?
Not in my experience
Sure the voyeuristic nosey neighbor might be interested but any serious investor has a tame agent they get this info for free from.
Rpdatas reports have all the photos and attributes of the property..I guess thats what you pay for.
Just getting a jumbled list of sales in a street not knowing what the config of the property is is pretty low value,I guess thats why its free.

 

[Raddles]

Hi there
have actually used this site for work related purposes - in this case a family law matter - knowing what one party paid for a property is relevant for contribution purposes when you a doing a distribution between the parties.
Having information that is free is a real bonus - as often you are dealing with clients who do not have a lot of funds to pay for this that and the other search.
thanks

 

[wylie]

I also love it because driving around locally I often "wonder what that house ended up selling for".

Instead of bothering a real estate agent for such a piddling enquiry, I can now find out myself.

 

[PWL]

Warm Welcome!

The concept of free data is a very warm welcome to all the buyers, sellers out there that don't have access to rpdata and others. Gives more power to the buyers & private sellers. With technology the way it is and the general public becoming more aware of what information is actually available i think a lot of things will change. Obviously the likes of rpdata have a lot more information, features, maps, etc that one must pay for if they need that info for their work, but for the general public i think this is a great tool.
As one of the other posters suggested, i also agree that some other sites may respond with some similar free data. In saying this, i think onthehouse will do well.

 

[stumunro]

great link! thank you!!!! it has actually made me feel a little better about a few of my purchases, that i didnt pay too much

 

[INVSTOR]

I just did a search on the first property I owned which was 56 Cedar St, Greenslopes. It showed from 1994-2001 prices virtually stayed the same. Since then they've almost trippled.

I can't wait to get the Perth info.