Advanced Property Insights…
The Latest Property Search Tool for Rightmove, Zoopla and On the Market
Video Transcript
Hello everyone, it’s Rob from Property Investments UK.
In today’s video, I want to show you a tool that you can use, to really help you to enrich your property search experience, to help you find potential properties, to consider, for your portfolio.
Now, the tool we are going to be focussing on, today, is called Advanced Property Insights and you can download it here from the Google Chrome store.
So, you do need to use the Google Chrome browser, in order to do this.
If you go to the Chrome store and type in the name of the tool, which is ‘Advanced Property Insights’, you can see, here, it comes up at the top and then you can download it, directly, from this section, here.
Now, once you’ve downloaded it, what this tool does, is it adds additional, location-based data to some of the main search portals. So, Rightmove, Zoopla, and On the Market.
And then when you do your search it will bring in that information, on the property search.
I’m going to show you, straightaway, how that starts to look.
An Example Property Search
You can choose any area for this. We are going to choose Chester, for this example.
And it’s primarily location-based data, regarding the selling of properties; looking at information like yield, house price growth and demand.
I’m just going to change these price dynamics, slightly, just to make the property a little bit more relevant to a standard investor-type search, in terms of the price range.
And you can choose any property that’s listed, here, on these pages.
Once you have chosen the property that you are interested in, it’s going to be on the next page where you see the advanced property data.
So, let’s say this one here, ‘The Crescent’, which is a three-bedroom, semi-detached house in this area, Newton in Chester.
Click on the property and what that will do, is it will start to load, as normal, in your browser and then it brings in this additional data-set, here, for that area.
Now, if it’s the first time that you have searched for this location or it is the first time any user, of this extension, has searched, for this location, the location data won’t yet have been pulled in.
So, it will take a little bit of time for it to load; anything up to 10 seconds, or so.
If you are patient and wait for it to load, once it’s loaded, it’ll pull in the address, the postcode for that area.
Then you’ve got these different data-sets.
The Data
And I just to give you a little bit more of an insight, in terms of what these data-sets are.
So, first of all, you have average yield, then you have house price growth and then you have something relevant to demand, which is what these two sections are.
Now, I’m also going to search using Zoopla, a secondary search. So, I’m going to go back to the home page of Zoopla, to show you how it works on another property and of course, another search portal, as well, so you can kind of see that same process.
So, we can click on this property, here, and wait for it to load the property listing.
If we go back to this initial property, there are a couple of things that are worth noting.
First of all, where this information is collected from.
There is a whole range of different data-sets out there, on the market. These include things like sold prices and things like which properties are on the market to rent and then therefore what sort of yield is applicable, to that property type, in that postcode, using a marketing price and the rental value for that area.
What this tool does, is it pulls in data from a third-party called Property Data and it uses these three areas, here: Yield, growth and demand.
They have an API with this but you don’t have to worry about how it works, technically and how it pulls the data in.
But I just wanted to show you the information, here, because it’s relevant, in the context of where that information comes from.
So first of all, demand uses the full postcode, here, for the property (a UK postcode).
Growth uses a UK postcode. In this instance, that would be these two data sets: House price growth and demand.
And then, finally, we’re looking at yields, which use a UK postcode and also the number of bedrooms and also the property type.
This data will change and it’s certainly applicable, that you should consider that this data is hyper-relevant to right now.
For example, this postcode is the starting point and then it uses a data range, typically, of about 20 different data points.
What that means is 20 different references to other properties, in that location.
Average Rental Yield
So, if we focus, here, on the average rental yield, at the moment, it will use this postcode as a central point. It will use this price range, here, as a value and then it will scroll out, from that radius to 20 different data-sets.
If you have got lots of rental properties in a given area, close by, that’s fantastic, It’s really relevant.
If it has to go out a little bit further. So, maybe it’s a quarter of a mile or even half a mile – because there are not many rentals in that location – then it’s going to be a bit of a wider snapshot, in terms of how relevant it is, or not; or how close to a specific value, this is going to be.
As of right now, 4.4% average rental yield, for this area, based on this postcode. Number of bedrooms, three bedrooms and it is a semi-detached property.
It’s really relevant to this particular location and this particular property type. Not this specific property, but this specific, property type.
Three bedrooms, semi-detached house, around this price range.
Local comparisons for a rental is, therefore, looking at around a 4.4% gross rental yield, for that area.
Now a few points to note is that, as I mentioned, if you have lots of local properties, it’s going to be much more specific, a lot closer, with that data-set being a lot more relevant.
If you don’t have many examples – maybe it’s a rural area that you are looking at or maybe the market is quiet with not many many rentals on the market -. it is going to be difficult for that information to be pulled in and to be really relevant and accurate.
So, don’t just rely on this data. Use it as a comparison tool.
If you are looking at and considering location A compared to location B, this can give you a really good starting point.
And also the data is, as-of-the-moment. It is looking at properties to rent in that area, today.
This will change, based on information, historically. It is not going to be relevant to that.
Also, it will change, based on information in the future. It is not going be able to take into account what is going happen, in two weeks time, in four months time, in six months time.
It is a snapshot, in time, of what the rental yields could be, for this property type, in this area.
So, it is well worth coming back, regularly and using your search, regularly, to try and understand what prices might be, at any given point and at what rental yields might be at any given point, in that location.
House Price Growth
The next data-set, here, is house price growth.
For this information, we are looking at 16.9%. And this is a three-bedroom, semi-detached and the postcode is CH2 2BP.
Whereas, for the other property, which was a two-bedroom flat – a similar starting point, district CH2 but a different end-postcode – you’ve still got a similar house price growth.
One thing to consider, here, is it is not taking into account the dynamics, the specifics, of this property. It is not saying that this property has gone up 16.9%, in the last five years, It is saying that house prices, for this postcode, have gone up, on average, by this amount.
And that takes into account all ranges of property types and all ranges of the number of bedrooms.
It is very much an average.
That’s helpful when you are considering, as a starting point, what locations have performed like, in the last couple of years.
If you are brand new to your location selection and you don’t really have an idea – maybe you are agnostic on a location – then this is a great starting point, to give you context, as to whether location A or location B has had higher or more significant house price growth, in a given year.
But don’t take this as being directly relevant, to a particular property. As I mentioned, it’s a location-based data-set.
Average Days To Sell
Next up, is average days to sell.
In this particular postcode, we can see, here, the stock turnover is very high and really relevant, for this property type.
And sales are really fast, 54 days.
If this is your first time, looking at this, you might think that that’s high or low, depending on your thoughts on how quick a property might sell.
But it is, actually, quite fast, for a property to sell within that timeframe, after it first comes to market, in any given area.
56% stock turnover per month.
That is, how many properties are coming to the market, at the moment, and how quickly, do they sell?
But then, also, how many of them sell, is going to be represented by this percentage, here.
And then just a very quick, visual image of how buoyant the market is, meaning, is it a seller’s market or a buyer’s market?
So, because we are seeing high demand in this area based upon a high volume of properties selling, then it could be seen as a seller’s market and therefore prices may increase in that area.
This is not a given, however. This is looking at data and a snapshot of time, for that postcode.
It’s not specific, to this exact property and it’s not indicative of future success.
It’s well worth, taking into account, the data-sets. It’s well worth, taking into account, the property types and considering the range.
But hopefully, it gives you a starting point, gives you some comparison data and with this snapshot, of a particular property on a particular property search portal, you can see the relevance of any given property, at any given time.
Hope that helps.
If you have any questions, as always, don’t hesitate to ask.
Secure your Future with Buy-to-Let
Investment Properties made Easy with an Average 8%+ Annual Yield, Beating the UK Average of 3-5%!
コメント