Property Planner’s Fast Fact – The three steps to property data success

Data alone is not the panacea of selecting the right property!

Data analysis relies upon:

• Step one– Getting access to all the necessary data for every location in the country (not easy)
• Step two- Understanding which data is important and which is not (even more difficult)
• Step three– Successful analysis of a location and/or property. (still requires physical reviewing of the location and property to back up the data)

Just to confuse things further, in some cases the same measurements of data can be a positive for one location and detract in another. This is a topic in and of itself.

Before analysing the data, you need to ensure the location or property that you have selected to analyse is the right location for you. This means it needs to align with your goals, your lifestyle or investment pathway, your cash flow and your tolerance for risk.

Because we live in property, It can be very easy to have assumptions and cognitive biases that are just not accurate.

These assumptions and biases can cost us hundreds of thousands of dollars!

Making educated and informed decisions takes effort, but is well worth the reward.

By |2019-05-20T15:24:00+10:00May 17th, 2019|

About the Author:

David Johnston
David is the Founder and Managing Director of Property Planning Australia, author of ‘How to Succeed with Property to Create your Ideal Lifestyle’, co-author of ‘Property for Life – Using Property to Plan Your Financial Future’ and a widely-published media commentator. With more than 20 years of experience, David is passionate about educating others to make informed, and ultimately, more lucrative property investment decisions. David established Property Planning Australia in 2004 – with the vision to educate and empower Australians to make successful property, mortgage strategy and money management decisions.  Property Planning Australia’s operations have earned acclaim and national industry awards for its unique fusion of property planning, education, money management, mortgage strategy and risk management. All supported by multi award winning customer service.