RP Data vs APM Price Finder

Hello Wise Ones,

RP Data vs APM Price Finder: which one is better and why?

 

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?

 

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)

 

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.

 

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?

 

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.

 

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?

 

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

Cliff

 

Agreed,my 3 month trial started in May and is still current

 

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?

 

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.

 

It seems my luck has finally run out

@See Change check your account !!

 

ditto

cliff

 

Mine is still active but lets just wait and see for how long

 

Mine went for 6 months

 

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!

 

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

 

RP Data Pro.

 

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

 

RPData is cheaper to use than APM Price Finder.