‘Brick mining’: A guide to finding Resale deals
In the flurry of excitement around new properties each week, it is easy to forget that some of the best deals in the marketplace are actually hidden in the Resale market. The most valuable of these, we call ‘Golden Bricks’, listed at a significant discount (though usually still at profit to the seller), which also increases yield.
The reality is – they’re not ‘hidden’ anymore. We’ve changed the marketplace so that you can find deals anytime on Resale, and even potentially negotiate deals of your own. Here’s how:
If your investment decisions are driven by numbers, then selecting ‘Data view’ lays the marketplace bare. Sort through properties by different data points, such as the largest yield on offer, or the greatest discounts to the latest valuation for Resale listings. For the Excel wizards amongst you, you can even download an excel sheet and sort the data in your own way.
The ‘Bid’ Engine
You no longer have to wait for a deal to arise; with bids, you decide the price. Find a property you like the look of, and let sellers know the price you’d pay for that property by placing a ‘Bid offer’. You’re effectively giving them a ‘sell now’ price.
People tend to buy through bids at an average of -8.44% discount to Latest Share Valuation, though still at a 2.62% premium to the initial price they were first purchased for. On this map, you can see the lowest share price available for each property, how much of a discount or premium there is to the latest valuation, and how much there is available:
(Only viewable on desktop)
You can also hear brief summary of how the Bid Engine works, in the video below. Or else, go to any property to place a bid now.