Where am I getting my data, information, facts, and figures from

It is very important to understand what has driven the data you’re using to make your decisions because not all data is reliable or meaningful.

Data might suggest that a particular suburb or geographical location is primed for future growth, but if the data is wrong or unreliable; or more likely if you have misinterpreted the data, you could make a very costly investment mistake.

Similarly, individual property growth data might suggest that a property is a good or bad investment, but the reality might differ.

It’s important to understand the data before drawing any conclusions.

For example, just because the data shows a suburb has generated price growth of 9% per year over the past 5 or 10 years, it doesn’t necessarily suggest its future growth will be in line with this.


Similarly for property-specific data - it is important to ascertain whether past sales were representative of the true market value of the subject property.

So when it comes to getting hold of data, information, facts, and figures to support your investment decision, make sure you question whether you’re being sold something that is right for you and your needs.

Are you listening to the right person or company for advice, or do they have a vested interest?

You'll find many marketing companies and those representing vendors and developers will skew the data to look more attractive than it is.

Most importantly of all, you should never make important property decisions on data alone.

Because the data only gets you part of the way - you must complement that data with local area knowledge and expertise.

Having many years of experience in a geographical market allows you to understand a market better and appreciate any changes in value drivers.

This is where the "art of property” plays an important role.

It gives context to the data and allows you to decide on its relevance.

RealRenta has all the tools that a property manager has but for less than ¼ the cost of a property manager.

Join now and the cost is less than a cup of coffee a week to manage your rental property

RealRenta also has a free vision, so why not check it out

Jason Gwerder
Tuesday, 31 May 2022

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