24 Aug Property Development Research Tools Part 2
In my last article I discussed useful tools for property development that requirement a payment. In this article I will touch on useful tools that cost nothing.
As I work closely with students in my property development mentoring program it never ceases to amaze me the variation around the country regarding the amount of information on council websites. A good website would have the following features.
- A copy of the planning scheme
- Applications. View past development applications and track current applications.
- Property Details. View zoning, lot size, lot and registered plan number.
- Mapping including zoning, contours and overlays such as flood, overland flow, environmental, heritage, road hierarchy etc.
I’m sure everyone has used Google Maps. For property developers it is useful for viewing streets, local schools, transport, parks, creeks, measuring distances, locating buildings.
Real satellite 3D imagery.
Views properties from street level. Can view type and scale of structure, slope, impacting features such as trees, power poles, manholes, bus stops etc.
Dial Before You Dig
Is a free national referral service designed to assist in preventing damage to various infrastructure networks such as power, sewerage, storm water reticulation, gas, telecommunications. It will tell you the position of services but not the depth. When combined with contour information, the point of discharge for sewer and storm water can be ascertained.
An essential ingredient of successful property development is to have up to date knowledge of the market you intend to develop in. Below are some websites that can be useful.
The old standards of www.realestate.com and www.domain.com.au are still the standard for searching what is for sale at what price. Open for inspection for townhouses or apartment are a must to see what other property developers are producing and to meet marketing agents.
Rental Growth / Yield
If you are intending to develop stock for the investment market www.realestate.com has access to data that calculates annual growth, rental yields and demand.
Statistics / Demographics
The Australian Bureau of Statistics www.abs.gov.au offers a number of free packages for statistics, community profiles and demographics.
I have always been interested in the forecasts of BIS Shrapnel www.bis.com.au. While their detailed reports come at a cost, they release free reports often with a three year window on the capital cities.