How often do you reassess the property market to determine which areas/suburbs to focus on?
Ryan: How often do you reassess the market to determine your focus areas?
Ben: Sorry, you just dropped out a little bit there at the start, what was the question again?
Ryan: The question is, how often do you reassess the market to determine your focus areas? You know how you have particular suburbs that you focus on as a buyer’s agency, how often do you start from scratch again, reassess the whole market, and reassess your suburbs and what you’re looking at?
Ben: We reassess, well I review the marketplace every single month. I do that by looking at RP Data reports and updates, [Residex 00:00:36] reports and update, [Hare and Tod White 00:00:39] reports and updates, and then I look at the [Metusics 00:00:43] stuff and the [John Gant 00:00:43] stuff as well, as well as the John [Lindeman 00:00:45].
That is just an ongoing thing I’m just constantly following, mainly Melbourne, Sydney, Brisbane, Perth and then I just have a, like the other markets, to be honest with you, aren’t even on my radar and never will be.
I follow those on a monthly basis in terms of reviewing the suburbs and the actual pocket of each market that I’m targeting as a buyer’s agent. I review that every single three months.
We look at all of the key performance indicators across each of those suburbs and we compare apples with apples and we pull some of the suburbs out that are getting too hot and we add some suburbs in that we think have strong potential for short term upsides.
Yeah, it’s a monthly activity, keeping your finger on the pulse of the wider market and then every three months we review the suburbs that we help clients buy in.
I’m pretty active as an investor myself. I’ve been more active in the last six months than I have been at any other time. I’ve been buying and that means we’ve been buying and selling quite a bit.
That’s probably pricked my ears up to the ground a little bit more than usual because I’m a bit OCD with the data, so I’ve been wanting to follow absolutely everything I possibly can.
Yeah, my focus is 100 percent on Brisbane at the moment and obviously it’s one of the worst performing markets in Australia as an average right now. I just think it’s got some really strong upside at some time in the next seven years and I want to be a part of that.
Ryan: I hope you enjoyed the answer to this question with Ben [Arringham 00:02:29] from Pumped on Property. We’re really having a blast doing these Q and A sessions with you guys, so keep the questions coming.
If you’re at the point now where you’re ready to purchase an investment property but you think you might need some help, then Ben is offering free strategy sessions to On Property listeners.
Simply go to OnProperty.com.au/session and you can book a time with Ben and you can go through where you’re at, where you want to be and what your next steps are to get there. Again, that’s OnProperty.com.au/session. Thanks so much for watching and until next time, stay positive.