Street value

hello to all the seasoned investors. This is my first post and certainly I am in the stage of taking baby steps in property investing.

I have been trying to look for a tool that could help compare different streets in a particular suburb and facilitate picking up the one with greatest growth history. Is there a tool that would show how median prices have trended for different streets in a suburb? Currently I am looking in Brisbane. Thank you all

 

If you have specifics, just use the onthehouse website which should provide you with some basic valuation (could be totally off), past sale and rent history.

 

Many thanks jins13. Will get on to that
Any more suggestions ?

 

You can really find this out by talking to locals and local real estate agents. As suggested above, look at comparable sales - there may be a pattern in certain part of the suburb having higher sale price and rental in comparison to the rest. We personally look at properties closer to the train station or a shopping mall, as there is more upside with the land there - should there be changes to zoning (if not already rezoned for development) - not necessarily to develop, but for land banking purposes.

 

I think you are a techy or work in BI. Unfortunately, we dont have any such tools. For this, you would have to do some homework mate.

 

Hello Ashish1137 I am neither actually. Just a newbie trying to learn

 

Thank you so much property twins. And whats the best resource for looking in to comparable sales.

 

We have all been there

 

We sure have and it is really inspiring to touch base with successful investors like yourself.

 

Look at historical comparable sales under the sold section on realestate.com.au

Some use onthehouse

Or paid rpdata or pricefinder memberships

 

Great, might consider getting rp data. Have heard good things about it

 

Domain
Realestate
Onthehouse
Pricefinder
Maps (satellite view)

I think all these things with street knowledge and then checking price of couple of houses in preferred streets should help.

 

There's no easy way- you really need to aggregate information from real estate professionals and data sources like view.com.au, paid databases (PDS, RP Data) and the usual portals (realestate.com, domain, etc.).

Some of these tools will offer you price estimates, and they're usually not that helpful. You'll probably find yourself working your way down a price range to a particular region or suburb, then you can analyse the properties that are currently listed and suit you in more detail.

I also note you're a QLD'er! If you're looking locally, you're welcome to get in touch anytime.

 

Hello Tom

Thanks a lot for the comprehensive response. Good to know that you are local. I know have a resource to rely on

 

Thanks so much Ashish. Have started the legwork

 

online very helpful but can only help so much as single building covenants, slope of land, street width, major development happening at the main rd, easements and many of these things can only be seen by going to the site for an inspection and also getting the section 32 etc.

I only buy in areas I am familiar as there are suburbs within suburbs, better/bad parts of suburbs, good streets and even better side within same street.

Also sold prices may not be a true reflection of value as once I was the second highest offer in a private sale at 602K but the purchaser offered 643K. So you also need to go to auctions to see the depth of interest in the property which can often be just as important as sold price.

 

Great information. Thanks so much mate

 

Onthehouse in particular is really good. You can search for a street (rather than just a particular property )and have a look at all the properties in that street. But you can't compare streets.Apologies if you already knew it and I am only wasting your time

 

Hey Ashish, thanks yet again. I am just fishing for information and the more i get the better.

 

My apologies, didn't realise that this came from you nubie. Many thanks. As I said all information is highly appreciated.