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RP Data vs APM Price Finder

Discussion in 'Information Resources & Tools' started by FirstIP, 16th Nov, 2015.

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  1. FirstIP

    FirstIP Active Member

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    Hello Wise Ones,

    RP Data vs APM Price Finder: which one is better and why?
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

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    I find Price Finder easier to use than RP Data. RP Data does exportable CMA's which is kinda handy if you need that, but I use Residex for that function anyway - depends on your profession.

    Pricefinder is good for
    - Days on market (negotiation tool)
    - Dimensions of block
    - Date and amount of previous sales
    - Owners details (in some states)
    - Estimate of property value and rental value (though accuracy is questionable)

    I guess it comes down to what data you're trying to find?
     
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  3. House

    House Well-Known Member Premium Member

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    PF seems to get more favourable comments from what I have seen but as above, all depends on what exactly you need it for. Plenty of free resources that may be of use (such as onthehouse.com.au)

    You can get a 3 month free trial if you subscribe to API for a year so you can try that to help you decide.

    Some older but still relevant threads over at SS to read up on;

    Pricefinder vs RP Data - Somersoft Property Investment Forums (2012)

    RP Data vs Price Finder (or others??) - Somersoft Property Investment Forums (2010)
     
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  4. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    All the valuation firms use RP Data as their primary source of info.

    I can't comment on APM, but I find Residex has more useful info which is why we use that particular one.

    It can be argued that it's fairly irrelevant. In some instances one is more accurate and in other instances it's not. I'd look to the actual info they provide and determine which is more useful to your needs. The accuracy fluctuates on all of them and for the most part it's not the number on the front page you should be looking at anyway.
     
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  5. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Do valuers actually take the estimated value in RP Data seriously?
    If so, would you happen to know whether they take they take the half-way mark of the estimation or or more on the lower end between the estimate?
     
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  6. Ripehouse.com.au

    Ripehouse.com.au Active Member

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    Feel free to try our free trial at Ripehouse - we feel we provide a valid alternative for the investor to RP Data and APM.

    We provide a very robust appraisal engine and if you are unsure of the appraisal figure you can reach out to us directly for an opinion at any time via live chat or #askripehouse .

    We have a unique algorithm that judges sentiment and keywords used by the selling agent to gauge the condition of the property (sure it is not perfect, but when you override its assessment it is self-learning and gets better). The engine is then able to go away and present to you a shortlist of ordered comparable properties that are more likely to be in similar condition. You are able to "curate" this comparable list and ensure you are entirely comfortable when using them to form an appraisal.

    We also demonstrate how the proximity to key amenities and public housing may "adjust" the appraised figure.

    I would challenge that estimated ranges are based on incomplete information and do not really help us make val. decision.
     
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  7. JohnPropChat

    JohnPropChat Well-Known Member

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    The last time I used RPData, the interface was a bit lacking. PF is OK if you know what you are looking for and this is what I use. I do find that PF is a bit slow in listing information on pending sales, may be it's just the suburbs I am interested in.

    Ripehouse (trialed it a while ago) and Investar(never tried it) try to do a bit more than just give you access to information so they MAY help to decide where to buy but once you decide on a suburb, it's pretty much the same process with any tool.

    Suggest you give ripehouse a try, it has a decent interface and tries to give you good picks.

    @Ripehouse.com.au where do you source your data from?
     
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  8. See Change

    See Change Timing Lord Premium Member

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    the price finder free trial seems to extend to at least six months ....:cool:

    Cliff
     
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  9. Coota9

    Coota9 Well-Known Member Premium Member

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    Agreed,my 3 month trial started in May and is still current:)
     
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  10. FirstIP

    FirstIP Active Member

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    Ok ... thanks so much everyone. I've had a trial with the one beginning with R (not Ripehouse). I searched the properties I know (because I've seen them or lived in them) and found so many errors - eg a 3BR house listed as a unit, a 4-unit block listed as having 5 units, incorrect rental data etc. I previously used PF, also for a short trial, but the web pages loaded so slowly - very frustrating. Is the info anymore accurate on PF?
     
    Last edited: 25th Nov, 2015
  11. Ripehouse.com.au

    Ripehouse.com.au Active Member

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    Hi FirstIP,

    We do clasify in some cases Townhouses as houses, and things like villas etc as units for the purposes of generating house vs unit distributions and median/quartile pricing per street per property type.

    We aggregate listings in a similar fashion to google as an example - so we do rely on how they are described or placed online by the agent. We are always looking at improving our system and we have a number of programmed "exceptions to the rule" where agents may sometimes be "creative". This may be one of those "exceptions" so I would love to see how we might improve - can you PM address details etc.
     
  12. Coota9

    Coota9 Well-Known Member Premium Member

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    It seems my luck has finally run out:(:(

    @See Change check your account !!
    Pricefinder.PNG
     
  13. See Change

    See Change Timing Lord Premium Member

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    ditto

    cliff
     
  14. blackenator

    blackenator Well-Known Member

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    Mine is still active :) but lets just wait and see for how long
     
  15. Coota9

    Coota9 Well-Known Member Premium Member

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    Mine went for 6 months
     
  16. mcarthur

    mcarthur Well-Known Member

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    Ditto - gone now at around the 6 month mark. Damn, I was enjoying the odd use of it too, but nowhere near enough to justify the monthly/annual charge!
     
  17. @bris_nth

    @bris_nth Member

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    When you guys mention RP Data, are you referring to RP Data Pro or PropertyValue.com.au?
     
  18. FirstIP

    FirstIP Active Member

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    RP Data Pro.
     
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  19. @bris_nth

    @bris_nth Member

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    Are the two significantly different? Both are by CoreLogic so driven by the same data and back end. I guess one is aimed at the consumer market and the other more at industry professionals?

    I'm after a resource that can provide historical metrics like median price, clearance rates, number of sales etc for several years. Any suggestions on what website is best? I'm happy to pay for a subscription
     
  20. Tekoz

    Tekoz Well-Known Member

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    RPData is cheaper to use than APM Price Finder.