Show me the data: Edwin Almeida

Show me the data: Edwin Almeida
Show me the data: Edwin Almeida

Looking into the mainstream-media property reports with respect to rental and vacancy rates; one questions how the data is obtained.

I have from time to time, questioned my brew of coffee but I can do so as I am personally tasting it.

The data about property being provided on the other hand is not as personal to the analysts nor the economists offering their property-charts to the general public.

Most, if not all their data comes from the main "property portals" and are highly reliant on real estate agent's, property manager's (PM) accuracy and detail of what is truly available.

"Trust me I'm a real estate agent, comes to mind..." However, in the case of listing rental-properties, it is prudent not to list all the units in the block: time, resources and the perception to the market are factors to be considered.

The proof is in the pudding

They say the proof is in the pudding. Well, the same may be said for the data and the reports.

The fact is, the data obtained by analysts comes from two main sources, three at best. These sources are; RPData, Domain website and the REA website. Now, how accurate is this data? No where near the truth...

So why is this data flawed?

Put simply, the data is flawed due to a basic anomaly; real estate agents “property managers” DO NOT place/advertise entire blocks of units on the property portals. At best case, the PM will advertise a mix of units: a one bedroom, a two bedroom and a three bedroom apartment.perhaps even one or two more; if they have a different floor plan.

I have had a recent look at the property portals and across three buildings I know off in Parramatta alone, there are 12 adds which advertise the units available in these blocks. However, across these three high rise blocks, there are approximately 700 apartments.

As a conservative guesstimate, coupled with the conversations I have had with the marketing companies that sold these units; it can be estimated that 80% have been sold to investors.

For now, also consider; how many apartment blocks are being completed and are nearing completion across Sydney? Hmmm a lot, you say? Now add a few more to what you believe. 

You guessed it; a lot available and soon to be available for rent...

You be the judge

For the very reasons I have written about in the past and now; I do not recommend for Investors to buy into the overheated property market of Sydney.

Of late, I have ventured out of Sydney to secure property for our clients. Property with steady rental returns and long term tenancies. More to the point, we have steered away from newly built property with unsustainable rental returns.

The real question

Is there really a shortage of rental property in Sydney? I say NO.

Most definitely not. Now you may dispute this and show me report after report. Again and again I will walk you though what is truly happening on the ground. Take you to, building after building that PM's only list 3-4 properties on the property portals and where there are over 120 units available in the recently built block.

Show me the real data...

EDWIN ALMEIDA is licensee in charge of Just Think Real Estate.

He is also the creator of Oz Real Estate.TV and a presenter for

Edwin Almeida

Edwin Almeida

Edwin Almeida is managing partner and licensee-in-charge of Just Think Real Estate.

Property market Residential Sales


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