In this week’s episode, Dave, Cate and Pete take you through:
- Occupations, education and incomes. Identify the key data sets the professionals look at, and how to use them to analyse whether gentrification is on the cards. And importantly, which data sets to ignore.
- Rental properties. Spotting the trends in tenure and weekly rental payments that will steer you in the right direction.
- Mortgage monthly payments. The trio explain what percentage of household income mortgage repayments should make up and why is this an important factor to look at.
- Usual address and internal migration. How many people lived at the same address 5 years ago and what does this mean? Who is moving in and who is moving out?
- Dwelling growth. How many new dwellings are being built and is this a positive or negative indicator of gentrification?
- Population Growth. Taken at face value, population growth is one of the stats that can lead you to believe a location is gearing up for massive capital growth. The trio explain how to treat population growth and what indicative changes to look for.
- Going to the suburbs. Don’t forget to take your eyes away from the numbers on the paper and visit the location. What are the signs that a location is attracting attention? Look out for fancy eateries and even fancier pooches on parade.
- And of course, our ‘gold nuggets’!
Cate Bakos – The Property Buyer’s Golden nugget: there is so much more to it than hearsay or picking up tips from a well written blog. Pound the pavement and look at the early signs and indicators, but then look at the data critically. Go through all of the points that Pete has gone through in today’s session.
Peter Koulizos – The Property Professor’s Golden nugget: You need to look for trusted data, there are far too many people peddling information and you got conflicts of interest. ABS census data is old, yes, but they interview everyone. With other data sets, the data is more limited, they survey just a small section of people.