CoreLogic Australia’s latest ‘Mapping the Market’ report has just been released, using location analytics and geospatial expertise to give a visual understanding of Australia’s property market.
This updated visualisation tool uses GIS technology (and millions of data-points in the background) to deliver an easy to interpret explanation of the current property market. Click on a particular suburb anywhere in Australia and instantly see its current median property value.
It’s helpful for discovering other suburbs that may have previously been excluded from a homebuyer’s frame of reference because colour-blocking shows median values of one area relative to their surrounds. Anything dark purple means the suburb median is above $1.4million, while the light orange sections show where you can still secure a property for under $600,000 - making it very easy to see which local suburbs sit within a particular home-buying budget.
The tool also provides a five year snapshot, comparing median values in October 2018 to October 2013, providing great visual insight into how the value of property has shifted over time. Hindsight is indeed a wonderful thing: click between the 2013 and 2018 mapped visuals to see the value movements across suburbs in any major city. For Sydney’s houses, only 1.0% of suburbs have a median house value of less than $500,000, compared to a much larger 30.0% in September 2013. For units, 85.7% of Sydney suburbs currently have a median unit value in excess of $500,000 compared to 47.5% of suburbs five years earlier.
Complementing the visual demonstration, the smart map also provides key market commentary from the CoreLogic research team, with data highlights and trends provided for each major city.
Use the CoreLogic ‘Mapping the Market’ tool here