Residz Team 6 min read
From the new PEXA Property Report feature to fresh listings of homes for sale (like this Brisbane four bedroom home pictured above), home buyers and sellers have lots of new research tools at their fingertips here at Residz in 2023.
Let’s dive in, and take a look at what real estate research data can be found quickly and easily at Residz.
Firstly, the new PEXA Property Report
PEXA is an online platform that allows lawyers, conveyancers, buyers and sellers to transact and track online property settlements.
Now, by partnering with Residz, the PEXA Property Report offers real estate professionals and home buyers and sellers an extraordinary amount of data on almost everything required to ‘know’ a property.
Best of all, thanks to the enormous data-curation capabilities of Residz’s parent company Mapcite, the property data is produced instantly, in real time.
The home buyer or seller simply types their address into the search bar, gives their email address (which is confirmed), and the property report is sent directly to their inbox.
So just now I decided to try this for my address on Sydney’s Northern Beaches. What turned up (instantly) in my PEXA property report?
I click on the report sent to me via email and immediately an aerial image of our house pops up on my laptop screen.
The front page of the report gives me this birds-eye view of our house, and there is a drawn outline of the house plot to help understand the shape of the block.
An easement is a 'right of way' that allows a specific person (commonly a neighbour) to access your land for a specific purpose.
Our PEXA Property Report shows no easements have been found at our address however it is highly recommended that a Land Title Search is ordered to confirm that a property is not encumbered with an easement.
Bushfire and flood risk
The potential bushfire risk has been calculated for most addresses in Australia. The PEXA Property Report says that our address has a 0.8 out of 10 potential risk of bushfire, which is low. It states the number of properties within 50m are 29, the distance to flammable vegetation is 1160.74 and flammable vegetation within 1K is 0m2.
The potential flood risk is stated as N/A and a report into subsidence risk is given as optional.
Most people don’t consider subsidence when assessing a property, but a house built above a tunnel may be subject to potential risk. I find it fascinating that the PEXA Property Report can tell me our house is 909 metres from the nearest tunnel.
Getting a report as to subsidence risk is strongly recommended for properties built within 50 metres of a tunnel, highly recommended between 50 to 150 metres, and recommended at 150 metres to 300 metres.
In our case, for our property, a subsidence report is optional and there is a link provided if you want a detailed analysis.
High voltage powerlines
For our address, no high voltage powerlines are found within 200 metres. This information is the type of thing that is particularly helpful for investors and home buyers choosing a property outside an area they’re familiar with.
Sales history and date
When the property was last sold is listed, and so is the price it sold at. I can see clearly and easily that this address last sold in May 2015 for $1.7 million. The average suburb value is $2.2 million.
The internet coverage in our area is excellent, and I see the PEXA Property Report tells me the typical download and upload speeds. Our download speed is 1000 Mbps and upload speed is 400 Mbps. For people working from home, this can be valuable information before you buy.
Proximity to Coast
Lifestyle changes during the pandemic saw a surge in real estate values of coastal properties, so this number can indicate the right to claiming a ‘sea change’ in real estate listings. Our house is 0.7 km to the coast.
700 metres isn’t at all far, but what the report doesn’t tell you is that our lovely downhill walk to our local beach is countered by the steep hill climb to get home again!
For parents, deciding where to send your child to school can be fraught. The PEXA Property Report sets out clearly on a map where the nearest schools are located, and the catchment areas for each of the government schools.
It also gives information about student/teacher numbers, and links to each school website.
Nearby Development Applications
Our street has seen a flurry of renovations completed over the past few years and the report has each of the corresponding development applications marked on a map, with information as to the nature of each DA.
Home buyers should be across what DAs have been applied for by neighbours, as some may have the potential to affect the enjoyment and value of the property you purchase.
Each report shows the investability score of your local area, and how that score compares with the state average.
For example, the NSW state average investability score is 59 out of 100. Our area (Manly - Fairlight) has the maximum available score of 100 out of 100.
So how is this calculated?
These factors are taken into account by Residz when arriving at the score:
The report outlines our neighbourhood boundary on a map, then proceeds to tell us about those who live within our immediate area. It says the average household size is 2.6, the median age is 37, the median income $3.1K/week, the median mortgage $3.4K/month, the median rent $620/week and there is 98% employment.
There is also information on the people and the housing stock of our wider suburb. For example, we see in a pie chart that just under 50% of the properties in our suburb are apartments. The rest are fairly evenly divided between detached and semi-detached type homes.
How many people have diabetes in your local area? What about asthma? Heart, stroke, or vascular conditions? This data is also set out in the property report.
The report plots on a graph the number of certain types of offences that have been recorded in my area over the past decade. In our local government area, a popular tourist spot, homicide has stayed at zero, but the number of sexual assaults was trending slightly up in recent years. Malicious damage to property and theft has been trending down.
Typical Property Prices
Being nearer the coast, prices for homes in our area are expensive, and the PEXA Property Report shows they range from $1.56 million for a two-bedroom home, up to $6.84 million for a six bedroom home. Urban density is high in this area, the report shows, with an average 42 properties within 50 metres.
Home buyers and sellers will be keen to see this data around recently sold property prices. Each recently sold home in our suburb is listed in the report with the sold price and the month and year it was sold.
Secondly, new listings on Residz
A new year means new real estate listings on Residz. Our partner real estate agents across Australia have listed properties for sale at no cost on Residz.
Each listing is fleshed out with helpful extra data about the property and location, such as the area’s investability score, local incidences of crime, local schools, and the demographics of the area.
One of the listings is this 6-year-old architecturally-designed four-bedroom home in Brisbane. Selling through Ray White South Brisbane, 74 Gladstone Road, Highgate Hill offers seamless indoor/outdoor living, with an alfresco entertaining area overlooking the pool.
Each property listing on Residz links directly to the real estate agent’s own website, so you can deal directly with the source if this is the property for you.
Residz can help buyers and sellers reduce the stress:
Image: Ray White South Brisbane website