With all the talk of record-breaking property growth throughout 2021, do you know how exactly your suburb and property type performed? Today we’ll show you how to find out in just a few clicks.
You’ve probably heard all the talk of national housing values soaring in 2021 – by 22.1%, to be exact.
But that doesn’t really tell you much about how your particular neck of the woods fared, does it?
Well, you can find out a bunch of important property information about your suburb’s houses and apartments, and those in surrounding suburbs, using realestate.com.au’s recently released PropTrack 2021 Suburb Report Card (desktop version, mobile-friendly link).
Ok, so the two main functions of the PropTrack tool are the ability to select “suburb” and “property type”, which is broken up into houses or units.
This is important because PropTrack data shows house prices grew 26.8% nationally in 2021, much more than the 13.4% growth in unit prices.
Also worth noting is that you can see how much change in demand there was for your suburb and property type, and even how many “highly engaged buyers” there were throughout 2021.
Other important insights you can check out include “average estimated value”, “average weekly rental value”, “rental yield” and “median days on market”.
While 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 so via the below direct links.
Just click the > button at the bottom (or top) of each linked page to scroll between the national and state tables.
– Suburbs with largest growth in average estimated house value.
– Suburbs with largest growth in average estimated unit value.
– Suburbs that were most in-demand in 2021.
– Suburbs with largest growth in demand in 2021.
– Suburbs with shortest median days on market in 2021.
With house prices having just experienced their fastest pace of growth since 2004, it’s as important as ever to find a finance option that’s right for you.
This is especially true as the finance market is starting to go through a shift, with more and more economists predicting the RBA will increase the official cash rate this year.
So if you’re a keen homebuyer who wants to explore what options are available to you – whether that be upgrading your home or buying an investment property – get in touch today to discuss your borrowing capacity. We’d love to run through it with you.
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