What we do
Residex Pty Limited is dedicated to providing quality information on the real estate market to government, financial institutions, valuers, real estate agents, accountants, solicitors and individuals.
The company collects data from various Government Departments and Real Estate Agencies. The data is compiled into a unique database and today Residex would have information on almost every house in Australia.
The age of the data varies, for example Residex holds data in Victoria as far back as 1865 and constructs indices from that date to today. In New South Wales, Residex holds data as far back as 1901 and Residex generates indices from that date. In other states the data extends typically back to the 1980's.
The unique Residex database cannot be matched by any public or private organisation in terms of accessible historical data and completeness.
Residex provides information on all aspects of the real estate market, not just relating to price, but also rental yield, growth in prices, analysis of market movements, mortgage design, financial transaction structuring, raising and placing of funding facilities, loan risk profiles, statistical consulting, price estimation and research.
The company is consultant and adviser to state and federal governments on housing related issues including the development of financial instruments to provide funding for housing needs.
History
Residex Pty Limited was formed in 1990 by a financier and an actuary. Its founding goal was to understand the residential property markets and inform the public and professional markets.
These goals remain and Residex is proud of its achievements. It is the only company in Australia to have won international actuarial recognition for its work in the development of a definitive measure of capital growth in Residential Markets.
Residex has continued its pioneering approach and having originally developed the Repeat Sales Index has now taken that approach one step further. There are recognised problems with this excellent method in that as additional new data is received it can impact on the prior calculated growth rates. This is an issue for all index methods other than the revolutionary index method Residex now uses. It is because of the impact that new data can have that all index providers, other than Residex, revise their numbers already released and additionally delay any release until they are confident that there is sufficient data available to ensure that any revision made will be minimal.
We call our new approach, which has been thoroughly tested for more than 5 years, the Non-Reversionary Repeat Sales Composite Index (NRRSC Index). We call it this because it is mainly a Repeat Sales Index but it possesses aspects of a Hedonic Index together with some unique processes developed by Residex.
The method is robust and has been calculated back as far as our data will allow. We use it to calculate and release indices within 15 days of month end. Further, as it requires little data to allow a robust index calculation we are able to provide indexes down to a Suburb level which are not only robust but do not suffer from high levels of calculation volatility due to small data sets.
There is no better index available.
Residex holds numerous Patents covering products derived from its research. These Patents are in a variety of areas from mortgages to property valuation.
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