I am considering to try out PP with a modest amount. Considering that there are not many new listings what do you think of entering via the secondary market? Any suggestions on strategy - and maybe some general hints regarding PP?
P.S.: and for the properties on the SM, is there a way to see the PAST income stream of the rental income. I found only the 'Events' timeline on the lower right, but not actual payment amounts listed
They've had a steady ~3 listings each month of recent so plenty of opportunity.
For the SM, the bid engine thing is pretty useful with reference to the share price history, i.e. see what lowest prices have been recently and leave a bid rather than settle for the current lowest share price.
At a guess, it's central London where people might be expecting slower growth next year and it's a low dividend relative to recent listings.
It's hard for anyone to make a particularly informed valuation themselves, a lot of properties do trade at well below the quarterly RICS (but rarely below the original share price). When selling something you perhaps haven't held for long, psychologically, the original purchase price is going to be a stronger anchor than a "market" value that won't be truly tested for another 4 years.
The history on the bid engine is useful as a basic overview, but it just has the 100 last trades so on some properties that could be 1 week and others 3 months. However, if you combine the data from the open house reports and the data from the current data view it can be quite a powerful tool to view all time trends. If you struggle to do a vlookup/join on the property details/address to combine data sources you could also try using the initial share price as a unique identifier (this is an example of some analysis I did a few months ago on this data), and I use this method to calculate my portfolio value each month (rather than their valuation).
I think some things to consider when buying on the SM are the % discount to breakup value, the gross/net dividend yield, and the growth that has already happened since the initial share price listing. Some ones to (potentially) avoid are the low dividend London properties that may struggle after Brexit. There's also a small facebook group which has a little additional talk to this forum and you may find interesting wiseclerk .