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What did your neighbour's house cost?

Discussion in 'General Discussion Forum' started by clontaago, Apr 9, 2008.

  1. clontaago

    clontaago Well-Known Member

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    UNLEASHING your inner property voyeur has just become a whole lot easier, with a free online service that lets you see sneak a peek at what your neighbours, boss or random strangers paid for their home.

    Data on www.onthehouse.com.au allows people to see how much houses have sold for in Queensland and New South Wales. Data from Western Australia, ACT and the Northern Territories will be rolled out within the next six weeks.

    The site’s chief operating officer Luke Ingham-Myers admits it’s a great chance for property voyeurs to get a free glimpse at what other people are spending on their houses.

    But he said it’s also a useful tool for would-be buyers or sellers to gauge where the market is at.

    "If you know the history of what buyers have paid for a property over the years and what others in a particular suburb are buying properties for now, it puts you in a far better position to make an informed decision about your own property or investments," he said.

    The data is being supplied from state governments, so there’s currently about a three month lag, but Mr Ingham-Myers says real-time data will be available soon. This will come from agents and private sellers who list their properties for sale on the site. Data from properties that sell from those listings will be fed into the sales reports to give more up to date information.

    So far the site has property sales data going back 30 years for Queensland properties, while the NSW data goes back to 2004. Western Australia, ACT, and the Northern Territories data will be rolled out within the next six weeks.
     

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