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Does anyone work in the RE / property data industry?

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

  1. auror

    auror New 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.
     
  2. devank

    devank Look, lets just get on with this, ok? Premium 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.
     
  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.
     
  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?
     
  5. devank

    devank Look, lets just get on with this, ok? Premium 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.
     
  6. mcarthur

    mcarthur Well-Known Member

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    Hari Sheldon :D
     
  7. auror

    auror New 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.