{"id":14801,"date":"2017-11-20T01:00:49","date_gmt":"2017-11-19T14:00:49","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=14801"},"modified":"2017-11-20T01:00:49","modified_gmt":"2017-11-19T14:00:49","slug":"forget-fake-news-the-real-danger-is-fake-market-research","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/forget-fake-news-the-real-danger-is-fake-market-research\/","title":{"rendered":"Forget Fake News \u2013 the Real Danger is Fake Market Research"},"content":{"rendered":"

Ah, the Internet. Don\u2019t you just love it? Full to overflowing with so, so much information! And plenty of it is dedicated to property.
\nIt\u2019s information overload, and all anyone needs to add to it is a computer and a connection. That\u2019s right, you don\u2019t need qualifications or actual knowledge \u2013 anyone can write anything about anything and put it up on the internet as \u2018research\u2019. Isn\u2019t freedom of speech wonderful?!
\nBeware though \u2013 and this is stating the obvious \u2013 much of information is questionable quality. Digest what you read with a grain of salt, or suffer the consequences of monetary heartburn.
\nManaging Director of Propertyology, a property market research and buyer\u2019s agency firm, Simon Pressley, says that there\u2019s a significant risk from people confusing \u2018reading<\/em>\u2019 with \u2018research\u2019.
\n\u201cIf the reader doesn\u2019t have sufficient background knowledge on the topic that they are reading about they won\u2019t have the ability to interpret good information from bad or well-informed opinions from gross generalisations,\u201d Pressley says.
\n\u201cLet\u2019s say I had a pain in the stomach and chose to turn to the internet to work out what it was. Search engines would produce all sorts of material which would produce possibilities ranging from an ulcer, to indigestion, or bowl cancer. The thing is, I don\u2019t have a medical background to be able to interpret the information. Instead of self-diagnosing on Doctor Google, I\u2019d be wise to go to a qualified medical specialist whose primary objective is my best interests \u2013 my health.\u201d
\nWith media companies continually making cutbacks to stay afloat in this digital age, journalists are under increasing pressure to reach daily \u2018click-count\u2019 quotas through producing higher content volumes; quality becomes a secondary consideration.
\nPressley says that much of what gets published on the internet about property markets is backward-looking, is heavily focused on only a few Australian cities, and can be influenced by vested interests.
\n\u201cThere\u2019s a lot of mass-produced generalisations which fill people\u2019s devices these days. In some ways, it\u2019s suppressing people\u2019s intelligence. People consume content, they fail to ask themselves \u2018why\u2019 others have a specific point of view, and just adopt the consensus as gospel.\u201d
\nPressley references the abundance of property news stories in 2014 and 2015 with every Tom, Dick and Sally claiming that Brisbane was destined to be Australia\u2019s next booming property market. He says that there was very little substance to support those big predictions and history now shows that Brisbane\u2019s market was incredibly underwhelming.
\n\u201cWhile all roads on the internet where pointing the DIY to Brisbane, we were thoroughly analysing the fundamentals of locations all over Australia. The metrics which we rely on were suggesting that the road ahead for Brisbane was uninspiring while other locations like Hobart<\/a> and parts of regional Australia were destined for good times,\u201d said Pressley.
\n\u201cThe information which shaped those decisions comes from years of analysis and dozens of different sources; it isn\u2019t found in one nice neat little package on Google somewhere.\u201d
\nMuch of the content found on the internet about property markets refers to what a market has already done. According to Pressley, people looking to buy today ought to be more focused on what a market is likely to do over the next few years.
\n\u201cThe problem with making decisions about the future of property markets based on historical property data, is that it\u2019s like looking out of the rear-view mirror to see where you\u2019re going. At Propertyology, we look ahead. The most significant leading indicators for that are often found through understanding employment trends, supply pipelines, and economic analysis.\u201d
\nInvestors would be wise to exercise caution about news articles talking up perceived \u2018hotspots\u2019 that are (allegedly) ripe for a quick burst of capital growth. It\u2019s not uncommon for those quoted in the story to have a vested interest to promote a particular suburb because they have a business there or they have a real estate project up for sale.
\nOn the other hand, at any given time there may be dozens of locations across Australia which do have the right combination of market fundamentals to support a really solid outlook. You\u2019re unlikely to read about these locations in an online news story because they are outside of capital cities.
\nPressley says that parts of regional Australia, home to more than 8 million people, contain some wonderful gems for property investors.
\n\u201cWe analyse property markets every day. We do feel that there is a science to it, although it will never be an exact science. We\u2019ve invested significantly in conducting formal studies to acquire very valuable learnings from Australia\u2019s property market history. The methodology which we adopt to help people invest is heavily shaped by these learnings from the enormous body of research behind us,\u201d he says.
\n\u201cWe conduct objective and qualified analyses of every property market in Australia. Then we act for as a buyer\u2019s agency to find that right property in those markets, and negotiate the lowest price for our clients.\u201d
\nIt\u2019s an ethos that\u2019s certainly working for the company and its clients.
\nPropertyology<\/a> is a national property market researcher and buyer\u2019s agency. The multi-award-winning firm\u2019s success includes being a finalist in the 2017 Telstra Business Awards and 2016 winner of Small Residential Agency of the Year in REIQ Awards For Excellence. Managing Director Simon Pressley is a REIA Hall Of Fame Inductee and a three-time winner of the REIA and REIQ Buyers Agent of the Year award.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Ah, the Internet. Don\u2019t you just love it? Full to overflowing with so, so much information! And plenty of it is dedicated to property. It\u2019s information overload, and all anyone needs to add to it is a computer and a connection. That\u2019s right, you don\u2019t…<\/p>\n","protected":false},"author":176692471,"featured_media":14802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[20,25],"tags":[70],"class_list":["post-14801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-propertyology","category-sponsored-channels","tag-featured"],"yoast_head":"\nForget Fake News \u2013 the Real Danger is Fake Market Research - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/forget-fake-news-the-real-danger-is-fake-market-research\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forget Fake News \u2013 the Real Danger is Fake Market Research - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Ah, the Internet. Don\u2019t you just love it? Full to overflowing with so, so much information! And plenty of it is dedicated to property. It\u2019s information overload, and all anyone needs to add to it is a computer and a connection. 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