Free property report from ING Home loans based on Core logic. You can download the report unlike others send it to your email.
Disclaimer: The ING Property Report is available to customers who provide their contact details for ING to contact them about products and services. Property reports are prepared by CoreLogic. The statements, information and opinions contained in those reports are those of CoreLogic only, and ING does not endorse or accept any liability for them.
Don't bother, their median price seems about 6 months behind
I think it would have to depend on the property?
I just plugged mine in (purchased for 820k in 2019) - median price says it is 980k at the moment.
Commbank have it a median price of 999k. 6 months ago it was sitting around 915k median.
Athena have it at 975k median.
Agree, mine is quite updated (like less than one month behind). Depends on your location.
@fab boy: Updated compared to what? The only figure that counts is the actual market price, and in my experience those price estimate sites are never very accurate.
Go to a few auction and see how they compare. It will become obvious very quickly that they have no idea.
Very subtle flex there…
@brotherfranciz: Ahh but I didn't actually say I purchased it though right? I'm from a generation who can never afford to buy in Sydney. Sure, I live in it and it was purchased in 2019 for 820k; but the valuation seems accurate. You certainly couldn't get over $1m for it at the moment, even with pandemic pricing.
People assume too much in this day and age.
How do you get a value from each of those financiers? Do they provide it as part of a refinancing query free of charge?
@SaberX: Most have an online one similar to what is in this listing. It's not an appraisal but an automated price estimate. Most are using corelogic or similar.
https://www.propertyvalue.com.au/athena
Commbank have an app (its in your netbank if you are with them and have mortgage with them)
https://www.commbank.com.au/home-loans/the-property-app.html
Their assessment seems about 18 months behind. My home was built and given occupancy in Augst 2019 and the report is still showing a block of vacant land.
It's a download button instead of submit for me. fake details etc then download report.
Just enter fake name, phone and email.
and fake address so you don't receive junk mail…
I entered my neighbour's address, incase I will receive tons of junk mail haha
After you put your details, don't need to put real info, unless you want to :)
Temporary email, random numbers for the win haha
You can't download. You need a valid email. Anyway, it looks like the same report as this one
Thanks just got my report
Looks exactly the same as the ING one to me.. Same value, same photos.. Just branded Athena.
Just downloaded a report for a property I checking out at the moment. Not worth the effort I reckon.
The information in it can be readily obtained via other sources, like domain.com.au, onthehouse.com.au etc. There's no additional information apart from additional details in the property activity list, where it shows you the property manager details and days on the market. This is just historical information and not relevant to making a buy decision today. For example, knowing that a property was on the market for 38 days back in 2017 when it was sold last, isn't really that helpful.
Useful to know how many days it's been on the market this time
Yea, I think that's the only useful bit of information.
Isn't there also the Commbank property app.
Interesting
A 5 page report to tell me "An estimate is not available for this property. There is either insufficient subject property information, recent sales or the property is considered to be out of scope i.e. non-residential, highly unique or rural and an estimate cannot be confidently provided."
Pretty awesome
Same here. Maybe they'll call or email us. Get us on their list…
Yeah i got that too.
Ditto
This one actually provides a little more than the others. Like who the sellers were. They have been doing this report for a few years now for free.
It's my go to for property reports.
Mark Zuckerberg is going to get a whole bunch of calls offering him home loans. Assuming I've got his number right: 0400000000. Pretty confident about his email though: [email protected]
Doubt it… pretty sure their internal email structure is either of the below
r/whoosh
Poor Mark. I tried to use same address and it said he has his maximum requests. So it went to ma.rk@Facebook instead :)
Imagine the idiot that paid a million bucks to get that premium number and now can't even use it due to spam calls.
Those price estimates seems abit over the top. Our house gained $1m in 2 years and it’s high confidence. What a joke lol
It's corelogic its pretty accurate for me. To be high confidence it needs comparable sales in area.
That’s great news XD
Sounds about right for Sydney.
An area of interest is up 500k from 8 months ago.
…Until your rates bill arrives … Good for the council, good for the government.
@tunzafun001: You are referring to land tax? It’s our main residence so it’s exempt. Council rates is the service fee on the garbage collection which I don’t think is dependent on how much your house is. Water rates the fee on water usage totally independent on how much your house is worth. So not sure what rates you are referring too
@Michaelz101: Council rates is calculated based on the land value, you should/will have received a valuation letter from your council.
@citybargainhunter: There was a change to the LGA legislation last month. Councils can now charge rates on total "capital value" vs the old "site value" (land only).
As Mr T would say …forecast….PAIN!
Again, the reality in a rising property market the real benefactors are the council's (as above), the government (stamp duty) and banks (self explanatory..bigger loans..bigger $$).
Ie. You buy a house for $400k. It goes up to $600k. If you don't sell, it's irrelevant and you just pay more rates.
If you do sell and move, the other house you buy is now double as well (and you will be paying twice as much stamp duty) and LMI, so the benefactors are the Government and the banks.
Look at the breakeven. Say you buy your house for $400k. Own it and sell in 5 years. Paid $30k stamp duty, $100k in loan interest +LMI if required, plus agent selling fees, plus conveyancing fees…
The breakeven on a $400k house is around $560k+ in 5 years!
Add in 5 years of council, water rates, maintenance, bank fees, insurance…another $20k+
$580k+ to break even.
New property will require another stamp duty payment.
Say you sell at $600k… 50% increase in 5 years.. and netted $20k…..which you now lose in paying extra stamp duty on the new place
Who made the real money …
Government & banks !!
the reality in a rising property market the real benefactors are the council's (as above), the government (stamp duty) and banks (self explanatory..bigger loans..bigger $$).
You realise that rates, duties, tax are used to provide you better services? So the benefactors are everyone.
You buy a house for $400k. It goes up to $600k. If you don't sell, it's irrelevant and you just pay more rates
It's relevant because you now have greater equity. This much better than any alternative scenario.
The breakeven on a $400k house is around $560k+ in 5 years!
There's some shonky maths going on there, but even using your crazy maths, you yourself said your house is now worth $600k. So you made $40k for doing nothing and you're complaining that this is bad somehow?
Who made the real money …Government & banks !!
And you. You see this is how a growing economy works, everyone makes money so everyone wins. Only some people are too stupid to see it.
@1st-Amendment: "You realise that rates, duties, tax are used to provide you better services? So the benefactors are everyone"
Hahaha…if only that were true. Massively inefficient and wasteful I would say. Classic example. Local council installed 800m of fencing, that wasn't up to code, had to be pulled up and put back in 50 cms further back from the road. Then did exactly the same with two roundabouts… laid dug up, re laid. Final kicker, used an Earth mover to moved beach sand against the sea wall. Machinery wasn't fit for this purpose. Sea water got in and the electrical gearbox controller was toast. Tide came in and swamped the lot. The cost was written off by the council as "government vehicles" in the yearly budget, to the tune of $750k. Then look at a local park. Not much to it..but the costs are often $1.7 million or something ridiculous. Comes down to the 'tender' process used to commission work being dodgy as…Anyway…
"There's some shonky maths going on there, but even using your crazy maths, you yourself said your house is now worth $600k. So you made $40k for doing nothing and you're complaining that this is bad somehow?"
Which shonky maths? I used an average interest rate of 5%..which is historically very conservative. Also, the breakeven was $580k, so only $20k 'potential profit'. But as I said, you will lose that and more on stamp duty on the new property which has also gone up. So from $400k to $600k you made nothing if you move. If you don't move, you are just paying more in rates.
Don't shoot the messenger, I'm just using real world numbers to point out a reality very few stop to consider.
Which shonky maths? I used an average interest rate of 5%..which is historically very conservative
Interest rates haven't been that high in over 10 years.
Don't shoot the messenger, I'm just using real world numbers to point out a reality very few stop to consider.
From 10 years ago.
I'll give you an actual real world example. I bought a house in 2018 for $520k. Over that time interest has cost me roughly $40k, other fees, rates, insurance the whole bag is about another $10k, so $50k all up. The neighbour's house which is similar spec built by the same builder at the same time just sold for $700k, so based on that valuation I'm up $130k in 3 years.
So in the actual real world, I made money, the conveyancer made money, the builder made money, the bank made money, and more money was put into public coffers for footpaths, roads, schools and hospitals etc. Literally everybody won. Hooray for economic growth!
@1st-Amendment: Ok, looks like we are doing this…
Here is a chart of real world interest rates in Australia (not the RBA cash rate, what the banks charge on average).
Are you trying to say 5% on average is in no way a conservative figure ? Look at the chart and see how much is over 5%..
https://www.infochoice.com.au/rate-watch/history-of-interest…
So you bought a house for $520k and paid no stamp duty? I don't know what state you are in, but currently SA or Victoria is $27k and $25k respectively.
Sounds like you had a 20% + deposit and paid no LMI. Which is good, but many pay it, it's a few thousand at least.
Now your house in 3 years would attract approx $8500 in council and Water rates. Insurance say $2k. Lets make it a round $10k.
Interest paid… Again, you need a minimum of $100k deposit to avoid LMI. So lets say a loan of $420k…which is around $27k per year…but lets go with current rates and call it $20k per year.
So $60k interest+$10k rates+ $25k stamp duty.. Im not even going to get into agent selling costs (when the time comes to realise a profit), bank app fees, bank discharge fees, mortgage registration, conveyance fees, up keep costs - ie hotwater system replacements, add a $20k back patio etc etc as we are already double over your $40k.
Sure you can buy a house outright with cash and make a dollar, but thats not the average Australian.
The government and banks are taking a far too large slice, and in many cases..all of it
Are you trying to say 5% on average is in no way a conservative figure ?
Not in the last 10 years it isn't.
Look at the chart and see how much is over 5%..
Yeah look at the chart, especially the most recent bit. Pretty much none in the last 10 years. Or are you planning on getting a mortgage with interest rates from 1991?
I don't know what state you are in, but currently SA or Victoria is $27k
Most states have exemptions for first home buyers, maybe move to one of those.
So $60k interest+$10k rates+ $25k stamp duty.. Im not even going to get into agent selling costs (when the time comes to realise a profit), bank app fees, bank discharge fees, mortgage registration, conveyance fees, up keep costs - ie hotwater system replacements, add a $20k back patio etc etc as we are already double over your $40k.
Lol I gave you a real world example, you give me made up crap to suit your story. I even used your numbers and still made a profit, your calculated $8.5k rates suddenly turned into $10k (mine are $4.5k over 3 years) and now you're adding in "a hot water replacement" and "a back deck" to fake the numbers lol…
My actual numbers are $40k interest, $4.5k rates, no stamp duty, so you're way off. In 10 years when my $700k house is worth $1.4M (7% average return is a conservative average), the $1500 rates bill will be peanuts. In another 10 years after that it'll be $2.8M. The power of compound interest!
I've owned a few properties in my time, bought and sold and profited, I have all the sums in spreadsheets that demonstrate that. Maybe you need to buy in better areas.
Sure you can buy a house outright with cash and make a dollar, but thats not the average Australian.
Over the long haul it is. My parents bought their first house in the 70's for less than $20k. it's now worth $2M+. Even enduring 18% interest rates for years they still made a lot of money.
@1st-Amendment: The last 10 years is such a small window on mortgage history, and it's an anomaly. My mortgage average would be around 7 to 8%.
So using those numbers, if my property appreciated at a historical average of 7% p.a. and I sold now, the bank is the one who has made the money. 7% interest is equal to 7% appreciation.
Again, pay off as much as you can to pass bank profits to yourself. If you are a cash buyer…it's profit. But the average Australian only pays the minimum required.
So when people say we sold for $500k (and only paid $300k for it), they totally forget
a) all the bank interest paid.
b) that the next house is also up just as much.
Your parents scenario has an inflation factor. Their $20k would probably have experienced an average interest rate around 10 - 11%. So meaning a total mortgage paid of around $55- $60k on a $20k property. I'm guessing that would be equivalent to around the mid $350k ish today. But again, renovations, modifications, upkeep etc all need to be considered in the cost base, then balanced with inflation. But at $2M+ they are definitely ahead. They have done well.
But this isn't the same across the board. Sadly, my parents in particular. They also paid $24k for their place in 1972. Since spent a bit on sheds, landscaping, carports, kitchen, bathroom reno. Valuation today is around $350k.
So if you see they paid $24k in 1970 and today it's worth $350k it sounds good ..but the reality is the $350k is actually a loss.
But I think in terms of lifestyle they have chosen well. I see Sydney valuations going exponential, but i dont get it. Anyway, that's a separate issue.
I agree you need to do something (ie buy property) to combat inflation, but don't judge the figures on face value, and realise the banks are taking a fair chunk of everyone's change..yet still charge $395 pa package fees!
@citybargainhunter: Makes sense why my council rate is higher than where my parents are based at. Thanks for clarifying
You are spot on.
I checked on 2 properties:
- The first is a unit at 90% high confidence with a +/- $20k. The estimate was extremely accurate as It was recently sold within 9 months with lots of similar units sold around the area too.
- The second is a house at 10% low confidence with a +/- $350k. The picture they have is actually from 20 years ago. The property had not been on the market before was it was first bought over 40 years ago. They don't know anything about this house except the land size to compare it to anything else.
data is rather outdated.
My property report just says “LOL”
Broadcast makes free lunch end sooner
There's already a few banks that offer this to generate leads. Corelogic also has a free week trial which is where the info is coming from. This one just doesn't send the report by email so you can enter fake one and download straight away.
Very mediocre report.
0444444444 is an emergency alert number
Please… just dont…
0444444444 is an emergency alert number
Which only transmits, it doesn't receive.
The report is pretty whack. I live in a duplex with next door being a mirror image of mine. In fact theirs has an extra side lane way which you could value as extra.
Both properties were bought 6 months apart in 2020. The report has my property at 1,116,000 and my neighbour at 1,090,000.
Unless somehow the robo report values aspect, I don't see how mine has gone up 36k and the neighbour only 10k.
Based on the recent sales of the neighbours on your side vs the neighbours on the other side.
As for $1.1m for half a duplex ..wow… Happy to sell mine for $0.11m :( still hasn't recovered from the GFC.
I’ll buy it for 0.11m ;)
I am serious.. regional SA. Whyalla.
If 2 min trips to work, no smog, no fires, minimal lock downs, walking along the beach with a $120k mortgage is your kind of lifestyle. Send me a PM.
The downside, an international airport is 4 hrs drive away, or 25mins via a 24 seater REX flight (15kg luggage restriction).
For 90% of Australia, wouldn't be a problem. Housing crisis is pure BS. Plenty of quality housing with employment out there.
Get out of inner cities.
Duplexes are being sold for around 2.5mil in inner west Sydney at the moment, it’s crazy
Keen. I'll call the bank.
Why waste your time just add 50% to March 2020 price haha, actually my property has appreciated 28% since December 2019.
People who like the report have been shown a high price.
People who dislike the report have been shown a low price.
This is quickly turning into people showing how much their properties appreciated.
The report is pointless, seller decides the price in Sydney.
You are aware Australia is bigger than just Sydney right?
no
Australia is Greater Greater Sydney.
Only if you ask svomo
actually the buyer sets the price….
Actually, the price is what both buyer and seller agree on.
Thanks OP. The estimates for me was quite accurate.
What is the RRP? *Asking for JV.
Nothing abnormal for anyone offering something for "free", just a reminder
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If they don't check the validity of your phone number or email, the above means nothing.
Got my report, thank you, but it is woefully inaccurate. Could not tell you the last time a property was sold for the price they gave in my area.
Mine is stupendously inaccurate in the basic details so I didn't even look at the prices. Wrong number of bedrooms and apparently the property was rented out recently, while I've been living in it …
Don't know how they could have possibly gotten it so wrong.
This is a really REALLY poor and inaccurate report. For my property inquiry it is missing 3 properties of the same era as mine that sold for significantly higher than my property. It's also including comparable properties that are brand new and half the size of my property. Nope, can't do that. Worst and most inaccurate report I've ever seen.
These reports mean nothing if your property has features that (as per them) comparable properties don’t have. I have a 120sq.m terrace balcony (plus my apartment) on the top floor of a boutique apartment complex. It’s not comparable to the shoeboxes at all. These reports don’t factor that.
Sucks coz I’m looking to refinance not sell. I know if I ever choose to sell, I won’t have a problem with price.
If you refinance an apartment they usually send out a valuer. I have the same issue. Mine has two balconies. The valuer always prices it way higher than these reports
These reports are for informational purposes only.
If you want to refinance, your lender will send an actual valuer who will actually inspect and consider all features. So when you apply for the loan, you can ask for what you know it's actually worth.
Not always, lenders are lazy and cheap. They will do a “desktop” valuation most of the time and if the loan is low risk and within LVR there will be no valuer dispatched. Data for desktop valuations comprises of these reports and the lenders own data.
I'm just trying to work out how many times we're refinanced…. out of at least a dozen loans, a professional valuer has been sent out, and I have paid for it, every time.
I'd say you're dealing with the wrong lenders. If you aren't getting an accurate valuation, you're most likely being short-changed on what they will lend (I'm sure they would be erring on the side of caution).
@SlickMick: I have never had an issue. I have refinanced 4 properties at least twice each. All major banks, including ING.
All of our loans are <80% LVR anyway as LMI is for schmucks.
The only time a lender sent a valuer was on a brand new build, as no data was available. They valued it at the purchase price.
And I’ve NEVER paid for a valuation. Oh actually once, for a B grade lender and they low-balled the value. Went with a major instead. All other times, no charge.
A decent lender includes the valuation when you have a package or relationship managed arrangement.
@smartinet: first your lenders don't do valuations, then the do but they include the cost in thier other fees??
@SlickMick: Lenders always do a valuation, we are talking about desktop vs on-site valuations. Do keep up.
@smartinet: Valuation has a definition in this context, and those that you've just made up do not both fit the criteria, on one does.
Keeps downloading a 0kb pdf file that won’t open… doesn’t work for me
How do you just download it? It asks for my details through the process including my email address and for me to consent to receiving it and marketing. I didn't see the option anywhere to just download it after punching in an address.