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Jennifer Duke
Investors will benefit from a world first daily measurement of Australian property values, released today by Australia’s largest real estate information company.
The new RP Data-Rismark system is designed to track the daily value changes of dwellings, so property owners and investors will be able to pick turning points in the property cycle quicker.
While previous indicators revealed trends on a monthly basis, dynamics in property values will now be able to be seen in an “intra-month” capacity, and will be only a day in arrears.
These insights will be valuable to investors looking to know the specifics of the property markets, and will allow them to have a timelier gauge on the potential price achievable for their properties.
Where previous indexes were subject to changes at a later date, this index is non-revisionary, ensuring that it provides a more certain overview of values.
On average, over the last decade, RP Data has collected 1,390 home sales per day. These new daily releases will cover all the major capital city dwelling markets and 99 per cent of the property stock.
The indices will be available on RP Data and ASX websites from 10am today and will replace the monthly index.
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