PropCast™ measures buyer demand levels to help predict how quick and easy or slow and hard it will be to sell your home.
It tells you whether your market is hot or cold, and puts you on the same page as reality so you make smarter decisions about your sale.
The PropCast™ mission
- To help protect homeowners from underselling.
- To help enable honest estate agents to be heard, and preferred.
- To help improve the efficiency and health of the UK residential property market.
Using the tool
Users simply input their postcode andPropCast™ will report on current market conditions, show historic trend data and display heat maps of adjoining local property markets.
Homeowners are then invited to request a free analysis of the market tailored to their specific property, coupled with a strategy blueprint with instructions on how to use this information to get the sale they need, no matter how hot or cold their market is.
The tool calculates ‘Sold STC’ and ‘Under Offer’ properties as a percentage of ‘total stock’ for sale, down to postcode district level.
The temperature metaphor is often used when describing property markets and so using artistic license, the tool uses a degree to express a percentage.
Markets states are designated as follows:
- 0°-25° = very cold / extreme buyers’ market
- 26°-34° = cold / buyers’ market
- 35°-49° = hot / sellers’ market
- 50°-100° = very hot / extreme sellers’ market
This methodology is the same as that used by; professional property traders, corporate asset managers and developer part exchange providers to quickly take the temperature of any local market.
It provides a quick and reliable measurement of ‘market heat’, which enables those ‘in the know’ to pick the right strategy to keep them one step ahead of the market, and achieve superior results.
At TheAdvisory, we believe it’s high time the public was able to benefit from it too because:
Only when you know the market can you outsmart the market.
About the data
The raw data forPropCast™ is supplied by 3rd party property market data specialists.
They provide a whole of market view of all publicly available properties (across England & Wales) by aggregating data from multiple sources.
- PropCast™ does not yet report on Scottish or Irish markets.
- PropCast™ does not report on ‘off market’ properties.
Estate agents should not worry
Some estate agents have expressed concern that giving vendors such transparency about market conditions will be bad for business.
They worry that if vendors now know they are in a buyers’ market, won’t that prevent them from trying to sell?
We believe these worries are unfounded because in reality very few house sellers attempt to ‘time the market’.
Instead their decision to move is driven by necessity…
…Death, divorce, births, marriages etc. pay no heed to what’s happening in the property market.
People need to move and PropCast allows these people to align themselves with the reality of the market and achieve their moving goals at the first attempt.
We believe this will improve the efficiency of the market, increase transaction levels and overall liquidity by shortening the lag between public sentiment matching market reality.
TheAdvisory would like to make extra special mention of Kate Faulkner and Robert May for their invaluable support and guidance during the creation of PropCast™.
Two of the most generous and genuine characters currently in the property industry.
Special mention also to Ceri Richmond, Lucy Tinkler and Matthew Siddell. Rockstars, all of them.