You have probably heard of all the talk of national housing values soaring in 2021 – by 22.1% to be exact. But do you know how exactly your suburb and property type performed?
You can find out a bunch of important property information about your suburb’s houses and apartments and those in surrounding suburbs by using realestate.com.au’s PropTrack 2021 Suburb Report Card.
What can the Prop Track Interactive Tool Show You?
Data can be categorised by suburb and property type, with PropTrack data showing house prices grew by 26.8% nationally in 2021, which was much more than the 13.4% growth in unit prices.
Demand and competition is the biggest driver behind price growth, and a combination of the two is always present in an owner-occupied dense market. To add another element to your research, the PropTrack tool allows you to see the change in demand for a suburb and property type, and even how many “highly engaged buyers” there were in 2021.
Other important insights you can find out includes the “average estimated value”, the “average weekly rental value”, the “rental yield” and the “median days on the market.” These are all basic metrics that should, along with many other data sets, form the basis for your investment analysis of a location and a particular property.
How does your Suburb Compare to Your State’s Best Suburbs?
By using the tool, you can immediately see how your suburb compares to its immediate neighbouring suburbs, but if you also want to see how your suburb stacked up against your state’s best, you can do this too!
Click the > button at the bottom or top of each linked page to scroll between the national and state tables.
- Suburbs with the largest growth in average estimated house value.
- Suburbs with the largest growth in average estimated unit value.
- Suburbs that were most in-demand in 2021.
- Suburbs with the largest growth in demand in 2021.
- Suburbs with shortest median days on market in 2021.
Are you Planning on Making your Move in 2022?
With house price having experienced their fastest pace of growth since 2004, it is important to have the right people on your side. Buyer’s agents will provide clear and objective guidance, market intelligence and experience to support the home buying journey. Using the skills and knowledge of a buyer’s agent can help find the property for you.
If you have any questions or want to know more about how we can help you find and secure the right property for you, contact us for an obligation-free consultation today.
Purple Avenue is a Sydney based Buyers Agency. We provide expert guidance and advice to help you make the most informed decisions, and our buyer’s agents will be with you every step of the way to ensure the process of buying your home is as smooth and stress-free as possible.
Disclaimer: This article contains information that is general in nature. It does not consider the objectives, financial situation or needs of any person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether in business, health or financial.