By: Rosemary Johnston- Friday, April 19, 2013
Independent property data that is based on large numbers, and expert experience and knowledge, is challenging to find in the real estate sector that is full of puffery: that legally endorsed opportunity to puff up their chests and crow about it being the best of the best. However puffery has no place in the consideration of what is the best opportunity for our time frames and goals in property investment. We need unbiassed information.
The banks publish annual or quarterly information that is based in their lending business knowledge and evidence. It often appears very conservative for its overall forecasts. However you need to remember these are averages. The average over the whole city of Sydney, Melbourne or Brisbane is very different than the best or the worst capital growth rates. What these reports do tell us is their economic assessment of the growth or contraction trends in various sectors for each capital city. That can be really useful as it enables us to gain a broader understanding of the economy we are investing into and opportunities it offers for our time frames.
http://www.westpac.com.au/docs/pdf/cb/Westpac_Property_Outlook_2010-2012_Update,_Sydney.pdf
http://www.westpac.com.au/docs/pdf/cb/Westpac_Property_Outlook_2010-2012_Update,_Melbourne.pdf
http://www.westpac.com.au/docs/pdf/cb/Westpac_Property_Outlook_2010-2012_Update,_Brisbane.pdf
http://www.westpac.com.au/docs/pdf/cb/Westpac_Property_Outlook_2010-2012_Update,_Adelaide.pdf
http://www.westpac.com.au/docs/pdf/cb/Westpac_Property_Outlook_2010-2012_Update,_Perth.pdf
http://www.westpac.com.au/docs/pdf/cb/Westpac_Property_Outlook_2010-2012_Update,_Canberra.pdf