Whereas once people interested in keeping up with the property market would have to subscribe to a range of magazines, newsletters and financial newspapers (and then wait for them to be delivered). Specialist analysis and primary data such as that released by the Australian Bureau of Statistics would only be reported to the public by the media.
Nowadays anyone with a computer and an internet connection can get access to the latest property investment news and analysis. Much of this information is now also free. With the wide range of primary and secondary sources out there for research, there is no reason a first time investor or someone looking to create a strategic investment plan should not be as well informed as property experts. Let’s look at some of the most useful research tools that investors should be familiar with.
Residex was founded in 1990 to provide housing price indices for the NSW Government. It has since gone from strength to strength, adding a host of research-related material for the public, including statistics and commentary and analysis. Users of their website can either search and purchase the report or information they require, or they can sign up for a free newsletter delivered in email form. For property investors, data such as Residex’s Prediction Reports can be invaluable for helping them choose areas where they can buy property to maximise their capital returns.
PRDnationwide is a real estate agency that specialises in property research, and they provide a range of useful free information and reports such as their quarterly local area property watch reports on their website. If you become a member (also free), you can also get access to PRDnationwide’s research such as their suburb profiles and receive a monthly e-newsletter that includes latest news and market trends. Their website also allows researchers to narrow their search for reports on specific locations and topics.
Australian Bureau Of Statistics
Apart from direct research on property statistics, as part of their property investment tips, most property experts suggest that keeping up with general financial, economic and demographic trends and indicators. This can help to pinpoint important trends and help property investors re-assess their long-term goals and planning. One of the best resources for getting such information is the Australian Bureau Of Statistics (ABS). They now release all news, data, analysis and reports directly to the public via their website. Anyone interested in property investment should focus on areas such as consumer confidence, mortgage approvals, new home construction and sales, employment growth and changing demographics.
Conducting research on property listing services such as realestate.com.au and Domain can also be valuable. Keeping an eye on the local market is easy this way simply by taking note of factors such as upcoming sales in the area, new developments being built and average rents.
Finally, property investment expert Ironfish can also help with their collection of extensive research information valuable on their website, including useful city data and quarterly residential property outlooks. Such information can help investors determine the best areas for capital growth and for attracting quality tenants who will pay a premium for the right property.