How accurate are the residex predictations in your opinion?. Do they tend to get the big growth suburbs right?. Do they ever make bold predications about emerging areas?.
Ive only used Residex in the recent property boom and it would be pretty hard for them to get it wrong during that time (2000-2003) so i'd say they are very accurate.
Ive only used Residex in the recent property boom and it would be pretty hard for them to get it wrong during that time (2000-2003) so i'd say they are very accurate.
Because the trend is your friend and once the upward swing starts and gains momentum its not hard to predict growth rates or even that you will have lots of it. Much easier than predicting things now.
Personally, i like the concept of price prediction using rental yields in an investor driven boom. In areas with higher then historical yields (8%+) the boom powered on until the yields were the same or less than that areas historical average, usually rippling outwards from the CBDs.
In thoses cases it was pretty easy to make predictions (and a lot of money)
No worries Ben, no need to apologise. Residex include disclaimers on their reports relating to what you are saying. In my particular case they were predicting growth of 20% pa over 2001-2003. But the reality was more like 40%-50% pa for 2 years. I think they like to stay conservative as they should.