Does anyone work in the RE / property data industry?

Discussion in 'Property Market Economics' started by tess_, 20th Aug, 2015.

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  1. tess_

    tess_ Well-Known Member

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    Hi all

    Finally moving my account over from somersoft.

    I would like to know, does anyone work in the RE / property data industry?
    eg RP data, pricefinder, Rismark, SQM research, RBA, APRA etc?

    I have been passionate about property for a long time as a side hobby from work, and now I have the chance to turn work into something that I love. This is very exciting for me but also a bit daunting. We all have our bad days at work, so I'm wondering what are the odds that I could get sick of property if I worked with property data all day long.

    Part of my job would be forecasting house price growth eg. when will Sydney peak and what will it do after the peak; when Perth will pick up etc.
     
    tess_, 20th Aug, 2015
    #1
  2. devank

    devank Well-Known Member

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    I'm a modeler too.
    In my view, we don't have enough information to come up with a decent forecast.
    Human behavior is the hardest of all to model. Unfortunately, this has huge influence on prices.
     
    devank, 20th Aug, 2015
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  3. Scott No Mates

    Scott No Mates Well-Known Member

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    There won't be much property in a gig like that. Data analysis, trends, culling comparables etc.
     
    Scott No Mates, 20th Aug, 2015
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  4. Scott No Mates

    Scott No Mates Well-Known Member

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    Humans are irrational beings. How can you effectively factor in variables like 'capacity to pay', emotional buying, herd mentality, 'property anxiety' etc?
     
    Scott No Mates, 20th Aug, 2015
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  5. devank

    devank Well-Known Member

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    Exactly my point :)

    Sometimes certain observations can act as proxy for what is not observed (recorded). Few may get captured by LAG (in a way trend) variables.
     
    devank, 20th Aug, 2015
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  6. mcarthur

    mcarthur Well-Known Member

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    Hari Sheldon :D
     
    mcarthur, 20th Aug, 2015
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  7. tess_

    tess_ Well-Known Member

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    Love the asimov reference.
    Might not be able to model the human emotion side of things -- but I can give it a shot! Property sentiment index?
    Anyway we'll see how it goes. Can't believe when I started posting on SS as a hobby that I might someday make property my day job too.
     
    tess_, 20th Aug, 2015
    #7