Data-driven sites providing a range of information on numerous metrics have become more prominent in recent years. Not too long ago these sites were not readily available. This limited an investor’s ability to research an area which in turn could limit their ROI. Fortunately, today there are numerous data drive sites that enable investors to identify areas with growth potential. Though, it can be difficult to decipher which data-driven site to use and how it may serve you in your research?
Some data-driven sites are subscription-based and require a fee to use. This means the user is charged (usually monthly or annually) in order to access this data. Here are some of the best-paid services:
CoreLogic is of the most common data sites and alongside Price Finder is widely regarded as the gold standard for data. They provide a range of data services to both investors and businesses. The cost of a subscription varies depending on the package you choose. The data they provide covers the national, state, suburb, and individual property levels. You can also obtain reports on suburbs and properties which gives an in-depth understanding of that particular suburb or property across numerous metrics.
Similar to its counterpart (CoreLogic), Price Finder provides a range of data on numerous metrics. They offer a range of subscription services for both retail investors and businesses. Many businesses within the real estate industry use this tool to generate a comparative market analysis on properties. This enables them to better understand a property or suburb if in the business of selling, buying, or renting property.
National property data
This company is relatively new to the game and according to the website was first established back in 2020. They are an Australian-owned company that focuses on providing data to real estate professionals. Though, their services could be extended to investors. They offer a month-by-month subscription fee with data dating back to 1986. Being a new company, their aim is to become competitive with the more established data sites in the future.
One of my favorite sites is DSR data which offers an alternative view to the above-mentioned platforms. DSR stands for demand to supply ratio. Given demand is the driving force behind price growth, they focus on differentiating suburbs based upon demand. A range of metrics is used to develop a score out of 100 which highlights the demand vs supply for a particular suburb. This can be extremely helpful in identifying areas for future investment. Moreover, they offer numerous other statistics such as historical price growth, market timing, and the statistical reliability of their data.
There are also numerous other data-driven sites that offer a range of data without any expense. Please note, some of these sites do have paid services offered but are detailed enough to derive information without needing to spend money.
SQM research is quite similar to CoreLogic, and Price Finder based upon the range of data available. Though, a large proportion of their data can be accessed for free. This ranges from price growth across the country to historical price data. It is a great source for information when wanting to get an update on a particular area or suburb.
Powered by CoreLogic, property value provides details regarding suburb and property profiles. That includes median price, estimated value, and a range of metrics on a particular suburb or property. They do have a premium service that enables the view of numerous other metrics. The cost price of this is significantly lower than what you would pay for a CoreLogic subscription though it may not be as detailed in the data available. It can be a great resource for helping to paint a picture of a suburb or property.
This platform can be used for numerous purposes. Similar to Realestate.com or Domain.com they show properties on the market. Though, the feature of this website that is most beneficial for investors is their Suburb research tab. You can search suburbs in order to find information regarding the previous 10-year growth, population, and demographics. This helps the investor understand what has happened in a particular area of the past decade.
A very unique data source is that of Micro burbs. Similar to other sites they offer a range of property metrics such as median value, yield, sales days on market. Though, the area where they separate themselves from the rest is the scoring system they use for demographics. They score suburbs based upon family, lifestyle, affluence, convenience, tranquillity, community. These help to demonstrate what a suburb is like from a liveability perspective. This could be extremely helpful for homebuyers but could still be integrated into the search criteria for investors. Heat mapping is also integrated into their system to provide a visual representation of suburbs based upon the chosen metric.
Note, I am not endorsed by any of these sites but have found some of them helpful within my own investing. You may want to check out my resource page for other helpful tools I have used within my own investment journey.
There is now a range of data-driven sites which focus on a range of metrics. Each site offers numerous advantages to the investor. I am not going to propose one site is better than the other as this is extremely subjective. Though, hopefully seeing the range of resources available may help to better inform your investment decisions.