Data and the demise of many want-to-be investors: Edwin Almeida

Data and the demise of many want-to-be investors: Edwin Almeida
Data and the demise of many want-to-be investors: Edwin Almeida

I almost choked on my fresh brew of coffee as I read what I and the local agents consider to be low rental data reports, shared last week.

I do completely understand that the author is relying on data provided by Domain head-office; nevertheless, the Domain figures are, in my opinion, far from the true reflection of the current rental market.

"Poles apart we may say..."

Real Data and live data is what is required now and in keeping with property investor demands and the financial institutions that rely on these. Most can’t and don’t have the resources to call and drive around Sydney, nor do they know where to look.

"Relying on property portal listings by agencies; is definitely fraught with  danger..." 

The following reported numbers are what I believe reflect the true picture, one that will soon be the demise of many want-to-be investors and those that have this fear of missing out. 

NORTHMEAD NSW, 2152

Property portal shows: 34 units available for rent (21/6/2016)

Real Data: reveals closer to 260 units available

CANTERBURY NSW, 2193

Property portal showing: 98 units available for lease (21/6/2016)

Real Data: reveals 360 plus units now on the market for lease. 

PARRAMATTA NSW, 2150

Property portal showing: 217 units available for lease (21/6/2016)

* ONLY A WEEK AGO THE PORTAL DATA REFLECTED "156 Vacancies." On their figures alone, this is an increase of approximately 30 percent in only a week.   

Real Data: reveals an estimated number closer to 900 units available for lease.

Warning and Tips

There are more apartment blocks under the final stages of completion. These will have occupation certificates within the next 2-3 months.  We estimate another 300-500 properties to roll onto the rental market in Parramatta in this time. 

The above mentioned manifestation,  is not confined to Western Sydney.  Many suburbs of Sydney are experiencing similar developments...

Real Data

Real Data is a compilation of information gathered from local area real estate agents, knowledge of buildings under construction and communication with the selling agents and property managers.

Real Data should serve as a warning to people looking to enter the property investment market in Sydney. In particular, people that are looking to purchase property off the plan and in newly built apartment blocks.

We recommend that the investor/property buyer, seeks local real estate advice and looks carefully at the local rental market return trends and availability. 

 

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 propertyinvestingvault.com.

 

Edwin Almeida

Edwin Almeida

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

Tags: 
Residential Property Sales Data

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