How to shortlist locations for IP $500k

Discussion in 'Where to Buy' started by Prop_invest, 22nd Jan, 2022.

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  1. Prop_invest

    Prop_invest Well-Known Member

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    Hi,

    I am living in Sydney and have an IP in QLD. Looking to buy the next IP. Collected lots of data on LGAs and suburbs levels. Started at LGAs level and filtered data based on yield(>4%), population (>30,000), the median price (<$600k). Ended up with 61 LGAs.


    Any advice, recommendations on how to move forward?
    or any suggestions on areas I should look at which is in my budget range with potential growth?

    Thanks
     
  2. NickWCBA

    NickWCBA Well-Known Member

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    Out of curiosity, what are you using to filter the data?

    I’d overlap vacancy rates. Days on market etc.
     
  3. Prop_invest

    Prop_invest Well-Known Member

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    Thanks for your reply.

    I use Python but can be done in Excel as well.

    I think vacancy rate and days on market are short-term indicators, aren't they? I'd like to be able to predict the mid to long-term growth (1-5 yrs)
     
  4. NickWCBA

    NickWCBA Well-Known Member

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    Wouldn’t we all
    Not as analytical but look at distance to cbd or coast, % of owner occupiers, infrastructure etc
     
  5. Basilplant88

    Basilplant88 New Member

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    Where do you get the data from?

    Has anyone tried out the reports from SQM research? Is it worth the money?
     
  6. Prop_invest

    Prop_invest Well-Known Member

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    I gathered them from many different websites. If tell me what kind of data you are after I may be able to direct you towards the right source.

    Still haven't got solid data on infrastructure/commercial expenditures in one place. Sounds have to read council's websites to extract them.
     
    nathan_nguyen254 likes this.
  7. NickWCBA

    NickWCBA Well-Known Member

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    Of questionable value but I wonder if you overlap with suburb walk score.
    Find Apartments for Rent and Rentals - Get Your Walk Score
     
  8. thunderstrike888

    thunderstrike888 Well-Known Member

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    Where are you getting days on the market and other data from and how do you know its accurate?

    From my experience of using a plethora of data sources not a single one has been accurate in terms of number of days on the market. Some are so wrong they are still showing rates from 24+ months ago. I've seen numbers 60+ days on the market for Sydney and Brisbane.

    Im telling you there is not a single house sitting for 60+ days on the market. Nowhere close.
     
  9. applesathome

    applesathome Well-Known Member

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    Yes I would be curious what you are using for data.

    On a number of different metrics, different websites will give you different results. Such as DOM, median price, median rent, etc.
     
  10. Prop_invest

    Prop_invest Well-Known Member

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    For the data you mentioned, I am using Corelogic data. I haven't cross-checked them with other sources though.