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The secret number estate agent’s don’t want you to know…

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getcreditscore.com.au

 

Here’s a number estate agents and property marketers do not want you to know…

Let’s say you decide to invest in a suburb someone said was the next big thing for capital growth or rental growth..

Let’s call it  “Suburb A”.

So you hop online and you shortlist a few properties and begin to contact the local estate agents..

They tell you all about the wonders of the area…demand is high…people want to live there…rents are on the up…it’s a winner!

They tell you tenants can’t get enough of the area so you’d better act fast after all “there are few properties available to meet the growing demand”. 

As a result, they tell you, “prices are set to soar”…

“Buy now. It’s perfect timing”

That evening…you’re flipping a few steaks on the barbie and sharing your excitement with your best mate…you tell him all you’ve been told about Suburb A.

Your best mate, who has your interests at heart says very coldly, ”great, so what’s the BoomScore for Suburb A”?

“The what”?

“The BoomScore”!

You mate pulls out his mobile phone and goes to www.boomapp.com.au and does a search on Suburb A

…and … BOOM!

The BoomScore is EIGHT: It’s a miserable 8 out of 48.

He looks at you glumly…

 

“..the estate agent said what exactly about the location?…A Boomscore of 8 tells me this suburb is hugely oversuppliedcompared to the relative demand for property in the area”.

 

“I think we’d better dig down into the data. The facts. The hard evidence about this area. But I think it’s going to be ugly.” 

 
So he digs into the 8 property stats that combine to make the summary BoomScore for Suburb A to see what’s going on.
 
And this is what he saw:
 
It takes 348 days on average to sell a property.
 
Agent; “growing demand?”. Really?
 
Properties are selling at 20% below their original asking price according to the vendor discounting stat.
 
Over 5% of every property in the market is for sale in Suburb A.
 
Agent: “You’d better act fast” ..
 
More like you should run away fast.. 
 
There are only 4 people on average searching on the portals per property in Suburb A.
 
“In a balanced market there should be no less than 26 or more people searching per property” he tells you. “This is one of the benchmarks the OSI stat – Online Search Interest – is measured against “.
 
So you stop…you hand back your mates mobile phone…the steaks are burnt and you are gutted.
 
…and all that wasted time spent trawling the web.
 
You decide not to look at the remaining stats…the story is already clear…and it doesn’t reflect anything the local estate agent told you…(or any other property marketer for that matter).
 
You don’t even bother to look at how each stat is tracking on the charts over 12 months.
 
Tip” the charts are a great way to spot a suburb where prices are set to soar…or hit the floor.
 
You best mate puts his arm over your slumped shoulders and says, “mate, this is the secret number estate agents don’t want you to know”.
 
 
“Let’s further narrow this list down by areas with high rental yields so we can cover our mortgage costs with some left over from the rent to replace the steaks we’ve just burnt”.
 
 
The BoomScore grabs huge amounts of data from over 9 respected (public) online data sources  including the main property portals.
 
After cleaning up the data, 8 different stats are produced that indicate supply and demand for units and houses in over 15,000 suburbs.
 
Depending on how well each suburb compares against these 8 stats, a final score between 0 and 48 is generated. 
 
“I recommend you pinpoint a suburb with a score of 30 or more…”
 
..or 24 or more where there are some obviously good trends in the underlying data (charts).
 
So in summary, the BoomScore is a great way to spot check a suburbs potential (or lack of) …
 
It’s also a great way to shortlist a handful of suburbs that meet your budget and goals.
 
 
 
“Boomtown and DSR Score will soon be merged into “BoomScore” for the first major Boomtown release in 5 years”
 

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