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”?
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.”