15 Free Online Tools To Improve Your Property Investment Research

15 Free Online Tools To Improve Your Property Investment Research

I am regularly asked what I look for when ‘doing the numbers’ on a new suburb.

With that in mind I thought Id share the free resources I use to get my head around a new market and understand its drivers with enough confidence to make an investment decision.

Looking to buy an investment property in the next 12 months? Learn more about how we can help you here…

What do I look for when analysing a new suburb?

State – e.g. Queensland

  • Is the state I’m researching predicted to outperform other states in Australia over the next 5 years?
  • Where is the state in terms of the property cycle? Is the state at the bottom of the property cycle and rising?
  • What are the economic, political and employment drivers occurring across the state?
  • What’s happening from an infrastructure perspective?
  • What’s happening and predicted to happen from a population growth perspective?
  • Who’s buying property? First homebuyers, upsizers, downsizers or investors?
  • How easy is it to access money? Are the banks freely lending money?

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Market – e.g. Brisbane

  • What’s the average price growth over the last 10 years?
  • What’s driving the market?
  • What’s the local council doing to improve the market?

Suburb – e.g. Chermside

  • What was the average price growth over the last 10 years?
  • What was the average price growth over the last 12 months?
  • What was the average price growth over the last 3 months?
  • What’s the predicted price growth over the next 5 years?
  • What’s the predicted price growth over the next 8 years?
  • What’s the medium house price?
  • What’s the demand to supply ration (DSR score) for the suburb? Read more about a DSR Score here (http://www.yourinvestmentpropertymag.com.au/dsr-score-for-property-investment/)
  • What’s the average rent and rental yield for the property type you have selected in the suburb?
  • What’s for sale in the suburb right now?
  • Where are rental vacancy rates sitting?
  • How many days does the average property sit on the market before it’s sold?
  • Average number of sales each year?
  • What’s the average vendor discount on a property?
  • What’s happening with supply and demand in the suburb?
  • How do the locals rate the suburb as a place to live?
  • How many people live in the suburb?
  • Who lives in the suburb? What’s their weekly household income, average age and how many people are married?
  • What percentage of people in the suburb rent?
  • Are there major shopping centres?
  • Is there adequate public transport?
  • How many schools and day care facilities are there in the suburb?
  • What’s the price difference between renovated and un-renovated properties in the suburb?
  • How much value would new bathrooms or bedrooms add to the properties value?
  • Can you add a secondary dwelling?
  • What’s the most common type of property sold in the suburb?
  • Who is selling the most property in the suburb?

Street

  • How much have other houses in the street sold for over the last 3 years?
  • How much have other houses within a 500-metre radius of the property sold for over the last 12 months?
  • How much are other houses in the street valued at?
  • What’s the ratio of owners to renters in the street?
  • How many houses have been renovated in the last 3 years?
  • How busy is the street?
  • What’s the zoning in the street?
  • Is the street close to parks, water or anything else that meaningful to buyers?

As you can see there are a lot of questions that need to be asked before you rush into buying a property.

The most common mistake I see amongst first time and established investors when doing their research is to focus on more than 2 suburbs at one time. The other mistake is they think because they have been searching on realestate.com for a few weeks that they understand a market and average sales prices.

By focusing on one suburb at a time you dramatically reduce your risk as an investor and will increase the return on your investment over the medium and longer term.

I will now show you which of the 15 free online tools below will help you answer each of the questions above.

15 Free Online Tools and Reports To Dramatically Improve Your Property Investment Research

  1. realestate.com – Free
  • What’s for sale in the suburb right now?
  • What’s happening with supply and demand in the suburb?
  1. Domain – Free
  • What’s for sale in the suburb right now?
  1. RpData – Monthly Fee & Property Price Finder – Free
  • What’s the price difference between renovated and un-renovated properties in the suburb?
  • How much value would new bathrooms or bedrooms add to the properties value?
  • How much have other houses in the street sold for over the last 3 years?
  • How much have other houses within a 500-metre radius of the property sold for over the last 12 months?
  1. On The House – Free
  • How much are other houses in the street valued at?
  1. Homely – Free
  • How do the locals rate the suburb as a place to live?
  1. Real Estate Investor – Some Free / Some Monthly Fee
  • Where are rental vacancy rates sitting?
  • What’s the most common type of property sold in the suburb?
  1. Your Investment Property Magazine – Free
  • What’s happening from an infrastructure perspective?
  • What’s happening and predicted to happen from a population growth perspective?
  • What’s the average price growth over the last 10 years?
  • What was the average price growth over the last 12 months?
  • What was the average price growth over the last 3 months?
  • What’s the medium house price?
  • What’s the demand to supply ration (DSR score) for the suburb?
  • What’s the average rent and rental yield for the property type you have selected in the suburb?
  • How many days does the average property sit on the market before it’s sold?
  • Average number of sales each year?
  • What’s the average vendor discount on a property?
  1. Home Sales – Free
  • What’s for sale in the suburb right now?
  1. Local Stats – Free
  • How many people live in the suburb?
  • Who lives in the suburb? What’s their weekly household income, average age and how many people are married?
  • What percentage of people in the suburb rent?
  1. Google Maps – Free
  • Is there adequate public transport?
  • How many schools and day care facilities are there in the suburb?
  • Is the street close to parks, water or anything else that meaningful to buyers?
  1. HTW Month In Review Report – Free
  • Where is the state in terms of the property cycle? Is the state at the bottom of the property cycle and rising?
  • What are the economic, political and employment drivers occurring across the state?
  • What’s driving the market?
  1. Residex – Fee Per Report
  • Is the state I’m researching predicted to outperform other states in Australia over the next 5 years?
  • Who’s buying property? First homebuyers, upsizers, downsizers or investors?
  • What’s the predicted price growth over the next 5 years?
  • What’s the predicted price growth over the next 8 years?
  1. Open Agent & Rate My Agent – Free
  • Who is selling the most property in the suburb?
  1. Drive buy the property – Free
  • What’s the ratio of owners to renters in the street?
  • How many houses have been renovated in the last 3 years?
  • How busy is the street?
  1. Call the local council – Free
  • What’s the zoning in the street?

 

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Ben Everingham

About

Ben founded Pumped On Property after building a multi-million dollar property portfolio over a 5 year period. His mission is to show you how to replace your income through property investing so you can do what you love…full time.