Buyers have become very sophisticated and well-informed in today’s market
Where do you start?
One of the most challenging aspects for a real agent selling a property has always been and still remains – setting a reasonable and realistic price range that the property will sell for. Buyers have become very sophisticated and well-informed in today’s market. Respecting a buyer’s opinion is very important however both the buyer and the vendor usually cannot buy or sell below or above the market price, it is of paramount importance to analyse the market and undertake all due diligence protocols at the time of listing your property so that more accurate expectations can be set.
These days buyers and sellers can access the latest trending property market data and property news available for any suburb, plus mapping tools and demographic information. If you are thinking of selling, buying, or investing in property, our suburb snapshot is crucial reading. Property price and rental data are provided by the well-respected CoreLogic Data Research.
When buying a property it is important to gather all the market “intelligence” available to devise your purchasing strategy. At times it really seems that buying a property is like going into warfare and if you are not adequately prepared with market research it will end up costing you thousands of dollars for the wrong decision. How do you start to zoom in on the right property in the right area for the right price? Property sales reports should form the basis of your market research with statistical data and sales analysis at your fingertips to help you identify property buying opportunities and negotiate a favourable purchase price.
Why do I need these reports?
Online property reports are for both the purchaser and the seller. You would never buy a property without undertaking appropriate market research and due diligence for an individual property its suburb and its demographic make-up. A property report will help identify and lower any potential risks associated with a specific property. They are also ideal if you are planning to sell your property and establish a market value without totally relying on a real estate agent’s appraisal. These reports should form the basis of your market intelligence gathering process. If you are selling how do you set the price? If you are buying what offer can you make? The information can be used by sellers and buyers, investors and owners.
What statistical information is provided?
- Sales History report for the suburb – and the last 90 days advertised properties- this report contains the street address, sales price, sale date, and area m2. Covers all reported sales (auction results, house prices, and unit prices) in the past 12 or 24 months in the postcode(s) of your choice. This report provides a snapshot into a postcode area and it includes demographic information such as population size, age statistics, family statistics, occupation, education, transport to work, type of dwelling, and nature of occupancy.
- Automated Valuation Report (AVR) – per individual street address property – Price your individual property, gives you a full market update – including a current price estimate – on an individual property (actual address). Shows the last reported sale price for the property or auction result. This is an ideal report to have especially if you are thinking of making an offer on the property.
- Individual Street Address Property Report for buyers and sellers (CMA) – What does it tell me? The Individual Street Property Investment Report provides you with key information on your selected property for investment analysis. Where available, this report contains previous sales for this property including dates and amounts paid by previous owners, rental data, area profile, cadastral map & aerial photo, and property photo. Capital growth graph (Past 10 Years), suburb map, age/sex ratio, household income, structure, and occupancy. Also available in this report is the percentage change in median price, number of house & unit sales per annum, past sales in your selected suburb, and advertised properties for the last 90 days.
- On The Market – Market Monitor Compare Report- For Sale and For Rent.
- Suburb Statistics Report – demographics, median sales prices, and capital growth rates.
- Auction Results Report – Nationally or actual Suburb (name your suburb).
- Individual Property Report – Owner’s info in Qld and NSW. Contains previously reported sales for the selected property and surrounding area, area profile, area snapshot and area activity, cadastral map, aerial photo, and much more.
- Rental Comparison Report – View current properties listed for rent and compare your property’s current and future rental yield.
- Sales Reports – This report details recent historical sales in a given suburb. It provides the date of the sale value and the property address. The report provides for the last 3 months to ongoing and updated property sale prices and 24 months of historic sale prices. The sales reported are all recent. Addresses are also provided so that once you inspect properties within the same area it will guide you to establish property values.
The above reports provide you with clarity of the information to further your understanding of the property market and hence increase your knowledge of the market. Found a property? Type in the address and find all its related market information. Is it overpriced, how long has it been on the market? Or find out exactly what the neighbours paid for their property and when!
Contact us for more information.