The Work

percent built into there into the into the detail of evaluation so evaluation is is sometimes described as an art rather than a science and at the end of the day the best way to determine the value of a property is well what do people agree on the value the value of a property is what someone’s willing to pay for it right that’s absolute value but I did test test this thesis the other day and I was looking at a property Seven Hills in Sydney and I went went and window real estate comrade sniff around.

I knew the attribute of the property went through everything and I went I reckon that this property’s worth between seven fifteen seven seventy just so my mechanical evaluation and then when it got a report from CoreLogic and had the the boundaries were between about and maybe but then it said with a high degree of confidence that it was about I think there’s about seven five five and I thought I sort of matches what I what I thought and then I’ve got a couple of valuations they come in at the same so um yeah it’s always worthy having bit of caution as well so there’s this sometimes things a model doesn’t know about for example you know is there a major highway planned to run to the backyard is there issues with an easement or pollution noise pollution or whatever you so now you still need the ground truth absolutely still need to apply your own diligence I think in in these sort of decisions yeah well things coming in Tim it’s always in education um you know it’s it’s a topsy-turvy world that we we’re in right now but it is just a property market you know it’s just businesses business as usual.

It is what it is yeah it’s um but we’ll get you back in and maybe a bit more of a regular update um we’ve been a bit heavy on on Sydney and Melbourne on conscious of that’s what everyone’s talking about right now so I’m happy to follow the trends you covered some of the other parts of Australia and I think we could probably deep dive a little bit more into those things but if you’re not familiar with what the core logic guys do just hop on that website there’s heaps of stuff there but if you use a buyer’s agent or broker whoever then no doubt got a subscription core logic so lean on them also help me out with some some some stuff from them if that helps in your buying decisions projection let’s get a nice projection projection for our five you fast forward five years from today Tim the Sydney market what’s gonna be happening compared to where we are today so five years from now that the market would have obviously bottomed out you know cycles are generally yeah we’re a downturns.