[PODCAST] Why You Should Ignore Most Property Data – Insights from Stuart Wemyss

Today, we're talking about property data.

We’ve all heard the saying, “The numbers don’t lie,” but what if I told you that relying too much on property data could actually lead you astray?

That’s exactly what my guest, Stuart Wemyss and I talk about today.

If you’ve ever felt overwhelmed by the endless stream of property market data or found yourself second-guessing your investment decisions because of some 'hot' new trend, then this episode is for you.

Stuart will break down which numbers you can trust, how to spot the indicators that matter, and why sometimes, the data can lead even the smartest investors down the wrong path.

Balancing Data and Local Insight

In this episode, Stuart and I discuss balancing data with local insights to make informed decisions in the fast-evolving Australian real estate market.

Throughout the episode, Stuart provides valuable guidance on navigating the complexities of property data, the influence of interstate migration, and the psychological challenges investors face.

• Challenging the conventional reliance on property data, instead advocating for a balanced approach that combines data analysis with local market expertise
• Discrepancies in reported house price changes due to differing methodologies from sources like ABS, SQM, Domain, and CoreLogic
• The impact of interstate migration on property markets, focusing on job opportunities and consumer confidence in Queensland and Victoria
• The psychological pitfalls of property investment, including the tendency to focus on negative data and the influence of social media
• The importance of professional advice and a long-term perspective to avoid costly mistakes in property investment
• The limitations of traditional financial planning in addressing property investment and the need for a holistic approach
• The value of local expertise, even as technology and AI play a growing role in data interpretation

Both reliable, comprehensive data and professional advice can help you navigate the property investment landscape effectively.

Whether you're a budding investor or a seasoned pro, this episode promises to equip you with the tools needed to navigate Australia's property market confidently.

Links and Resources:

Michael Yardney

Stuart Wemyss – Prosolution Private Clients

Stuart’s Book – Rules of the Lending Game & Investopoly

Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us

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Some of our favourite quotes from the show:

“You can't just rely on data. You've got to understand the context behind it as well.” – Michael Yardney

“Of course, there's always a talk that when more sellers get into the market that floods the market and prices don't go up as much. But most sellers are actually buyers as well. They're upgrading, they're right-sizing.” – Michael Yardney

“Once you take the courage and you're doing the thing you're committed to, that then gives you a new capability and the more you do it, the better you're going to become at it.” – Michael Yardney

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