Buying and selling property involves very large sums of money so it makes sense that decisions around the process need to be based on up-to-date factual information. There are many sources of information about real estate in the media and on the internet, but much of it is ill-informed. No property professional would rely on unverified sources to make such important decisions.
For real estate trends, figures, forecasts and market research, our company, Prudential Real Estate, only uses sources that have a proven record of providing information that is timely and reliable. We do this to protect the interests of our clients in Sydney who often look to us, as industry experts, for data to help them make buying or selling decisions.
Professionally Gathered Data Reduces Risks
Of course there is no system that offers a guarantee that every decision made based on its information will be foolproof. However, by using data that is gathered, analysed and distributed by professional organisations operating with integrity, investors and home buyers in Sydney are substantially reducing the chances of making an expensive mistake.
This type of information can be used in many ways, and one of these is to forecast the direction of the housing market for interested parties. For example, a developer in Sydney interested in buying land for a housing development would not normally go ahead with the purchase without seeking out demographic information about the target area.
Accurate Demographics Needed to Plan Future Projects
Statistics such as the number and age of the population in that area, the distance needed to travel to employment opportunities and the location of infrastructure to support the development would be of interest. Forecasts of anticipated sales income based on supply and demand models would be needed as part of any proposal to raise capital loans to fund the project, if required.
Long-Term Forecasts Essential to Business Expansion
Of most benefit to us as real estate agents are long-term forecasts based on current trends but extending three to five years into the future. This is completely different information from what most people see and hear via the media, which operates on a 24-hour news cycle. We rely on the accuracy of forecasts not only to assist our clients, but also to build our own business, that is. anticipating the next growth area where we may open a branch.
The real estate industry relies on this and many other types of information to service clients, train staff and keep up with emerging trends. The data gathered by professional research companies is essential to the stability of our industry, and at Prudential Real Estate we use only those we know to be accurate, trustworthy and independent.