How to use the REalyse platform to understand demand in the UK property market, determine where your development can boost its value added and stay ahead of your competition.
Read time: 8 minutes
“If you build it, he will come,” said the voice in Kevin Costner’s head from the 1989 baseball movie classic, Field of Dreams. Sure, ol’ Kev was on about building a baseball field in his backyard, but it could have been about property development in the UK… Or, at least in our view, it should have been about property development in the UK.
And when he said “he”, we like to think he meant everyone. And by everyone, we mean developers, consultants, investors, and lenders. Whether you’re building residential or commercial real estate, the demand for property in the United Kingdom far outweighs supply – which means it’s a good time to be in the business of development.
The competition to find land is rife in the UK. Those dealing in the arts of building bricks and mortar on said land need to make sure their next move is a watertight one that leads to the best possible outcome.
Today, we live in what is primarily a digital world. This world gives us access to plenty of data points. And naturally, with access comes insight – which leads to clearer decision-making. Having the tools at your fingertips to unearth important information about UK postcodes is essential.
And it just so happens REalyse has built a platform that helps you better understand demand, value added and your competition.
Before digging into the nitty-gritty, it’s always good to get an overall view of the picture at large. The “Overview” section allows you to search for property prices in areas across the UK. Before making any significant decisions, you get an idea of the state of play in a postcode, from median prices to 12-month changes to square footage paid.
Example price average for Charing Cross, WC2
The type of property is also available to view, which provides a better indication of the types of property in the area and their value. Within a few clicks, users of the REalyse platform already have an idea of demand in a local area.
Example property type for Charing Cross, WC2
Information can be broken down into new builds and secondary homes, while each detail- sq ft paid, median price etc – is available as its own chart and can be downloaded for external purposes.
Whether you’re a developer exploring new building opportunities, or a lender is looking at the viability of a project, having a feature as REalyse’s ‘Overview’ section provides you with the essential information, such as understanding the demand in a postcode.
“Who lives in a house like this?”, the comedy panel on Through The Keyhole would often ask in jest. But “who lives in an area like this” might be a much more serious question if property building is on your agenda. REalyse’s “Demographics” lets you take a deeper dive into the make up of an area.
Using it, you can trawl back through almost 25 years’ worth of information about the demographics of an area. From the area population to the median age and even net migration, users get a real insight into the profile of individuals that inhabit an area.
Example people and age demographics for Charing Cross, WC2
Go one step further and break down the age percentages in the area and even whether buyers outweigh renters.
Age and ownership statistics for Charing Cross, WC2
Other aspects worth visiting include insights into the local area, such as broadband speeds and travel connections; education statistics, which are especially helpful if you’re building family-friendly accommodation; economics, so you can see the economic prosperity of a postcode; and deprivation, which includes crime stats including types of crimes committed.
Having access to such a wealth of information about an area not only provides a better indication of where it’s going; it can also help you understand its past and how that could affect its future. All of the stats for local demographics in an area go some way to ascertaining both its current demand and value.
Any good decision-maker does more than simply look at the facts and figures. They compare and review, making conclusions based on the information at hand. The “Analyse” section of REalyse lets you see a “tale of the tape” when you hold two areas up against each other.
Compare transactional information for sales and rents, such as discounts, gross yields, price asked, the price paid, rent asked, and sqft rent. Or perhaps you want to make it more property-specific, with information like number days on market, property size, and rental listings.
Comparison of median discount v median days on the market between Charing Cross, WC2 and Mayfair, W1
“Analyse” helps you understand the more subtle differences between areas. It might be those intricacies that make all the difference between building the right and wrong project.
It might sound obvious, but property is the name of the game when it comes to development – which is why knowing about a property’s value is vital. Knowing the “asking” and “sold” price for a two-bedroom terrace or one-bedroom flat is one thing; knowing the exact details of a property is another.
What do we mean exactly? With “Properties”, you can check on prices asked, prices sold and rents asked for properties that fit a unique set of characteristics. For example, you can search to see the performance of properties that feature a balcony.
Example of a property in Fulham, SW6 with a balcony
Having information on these extra details provides that little bit more for those trying to get a clearer picture of the property in a specific area. Whether you’re building a house or multiple flats with balconies, viewing the “Properties” allows for more concise insights.
As we mentioned earlier, property development is fiercely competitive. Understanding how your competitors operate, and where they are building, could give you a one-up when it comes to your next move.
“Land & Ownership” helps you to find plots of land a company owns. Typing in the company name will result in a map showing you were your searched companies operates. You can check everything from business to county councils, from housing associations to local authority.
Example of a company with a development in Fulham, SW6
Such in-depth access to competition, whatever guise it may come in, provides clarity. That clarity can be used to make better decisions, taking into account the movements of competitors. Combined with property and local area information, it gives you a full pallet to make your next move.
Much like “Land & Ownership”, the “Planning” section of REalyse provides a clear indication of which areas have developments currently under construction. Not only that, but you can see future projects, as well as planning permission that has either been denied or aborted.
Planning status in Fulham, SW6
It’s possible to check the stage of the development, including the number of units under construction and its primary address. Like the other sections on REalyse, you’re able to go back almost 25 years, picking out the data that’s relevant to your search.
A full layout of planning permission in areas across the UK is ideal for understanding the feasibility of constructing a property development in an area. From being able to check applications, application descriptions, and clients, developers have access to monthly updating datasets about planning permission.
Having access to the “Scout” opens up the doors for datasets specific to your requirements. You can carry out up to three different datasets and compare them against each other, or just use them to look at data specific to your needs.
Data comparison of properties in Fulham, SW6
Take every component available on REalyse and stack them up against each other to create your perfect project. Investors can create thorough due diligence reports, developers can create in-depth appraisals, lenders can check loan performance against the market, and consultants can give precise advice based on up-to-date and accurate market intelligence.
REalyse maximises value for its users, making cutting-edge market intelligence easily accessible in the process. From a general overview to precise details, your next development decision can be a confident one with REalyse. Understanding demand, value-added, and your competition put your at the forefront of the development game.
After all, if you build it, they will come.
Want to find out how you can use REalyse to see the market before the market? Get in touch and sign up for a trial here.
© Treex 2020