Research Hub

The benefit of real time market intelligence

Red23 invests in local, regional and national research. Our research team is focused on delivering real time market intelligence to our clients. We are not a consultancy, rather an exclusive service to our partners.

Red23 offers both economic analysis and growth area expertise - fundamentals to a competitive project strategy. We also provide our developer partners with tailored market research and monthly competitor dashboards to help monitor the competitive landscape.

Red23 Research Hub | Jul.’19

  • Positivity in the market has been witnessed... but still early days.
  • Extra stimulus will need to be considered; interest rates are predicted to fall again.
  • Greater Geelong’s month-on-month median land price increased back up to $290,000.
  • June delivered a further $2,000 decline in the median land price. Will the median land price fall below $300,000?
  • Median price of new stock introduced this month was $315,000; $16,000 less than the median land price of available stock. 

Red23 Research Hub | Jun.’19

  • After 90 days of stability, May delivered a $2,000 decline: a median price of $335,000 - it’s largest fall in 2019.
  • Close to 500 new lots were released over the last 30 days, a new stock median of $317,000.
  • On a suburb basis, Point Cook outperformed all other suburbs with median price growth of just over 8 per cent.
  • Project sales rates remain soft, albeit increasing slightly over the last 30 days, to a median of around 2.5 per project: the second strongest monthly rate in 2019.
  • Following on, Hume outshone all municipalities this month at a median project sales rate of around 5 per project (double Cardinia, ranked second). 

Red23 Research Hub | May.’19

  • For 29 consecutive months, the median land price rose from $187,000 (Dec. ’15) to $355,000 (Apr. ’18).  The current gross median land price sits at $337,000 for 3rd consecutive month.
  • Median land price of new stock was $327,000.
  • More than a third of all trading projects producing a zero sales rate.
  • In percentage terms, more than a quarter of all growth trading projects are located in Melton (compared to around 13 per cent some 4 years ago).
  • Wyndham is the only remaining municipality that hasn’t show a year-on-year median price fall.

Red23 Research Hub | Mar.’19

  • Gross median land price stalls at $337,000 for 2nd consecutive month.
  • Median land price of new stock was $326,500, noting that less than 10 per cent of stock released sold.
  • More than a third of all projects delivered a zero sales rate!
  • Median project sales rates are still a concern, with a median of around 2 sales per project.
  • Median rebate was around $15,000: confirming a net median land price of $322,000.

Red23 Research Hub | Feb.’19

  • After the largest monthly fall in the median land price in over 3 years, the land price  movement has largely stalled in Feb. ’19 at $337,000 (down 2.6% YoY).
  • That said, the net median land price continues to fall as rebates continue to emerge (median rebate ~$15,000).
  • Notably, all but two of the municipalities experienced a fall in the median land price: Hume, in Melbourne’s north remains the most expensive municipality for the 5th consecutive month.
  • Very few green shoots with the median project sales rate continuing to fall, now just above 3 sales per month per project.
  • Cancellations are certainly a topic for discussion, with stock levels expected to rise in the coming quarters placing further downward pressure on price.

     

Red23 Research Hub | Jan.’19

  • Largest monthly fall in the median land price in more than 3 years.
  • A $10,000 (2.9 per cent) fall delivering a gross median land of $338,000 (comparable to QIV. ’17).
  • All but one of the municipalities experienced a fall in the median land price, Hume remains the most expensive municipality for the 4th consecutive month.
  • Berwick, Burnside and Point Cook are the 3 most expensive land markets, Eynesbury, Diggers Rest and Melton South are the most affordable (all within the City of Melton).
  • Project sales rates are sliding, now below 5 per month per project (median).

June delivered a further $2,000 decline in the median land price. Will the median land price fall below $300,000?

 

Learn more about what we do

Find out more

Over the years, Carlisle Homes has worked with the Red23 team to deliver great results via well thought-out house and land promotions on a number of projects across Melbourne’s greenfield sites.

Hans Oudemans
General Manager Sales – Carlisle Homes

Red23 and Red23 New Homes breadth and depth of experience in sales and marketing, is a testament to their team.

David Lunardi
Development Manager – Intrapac Projects

I want to thank Frank Franze for his amazing service and advice through the whole purchase of our first block of land. He was patient, professional, knowledgeable and just a lovely person.

Jessica Louise
Customer

Resi Ventures appointed Red23 after considering several options and felt that Red23 was the best fit for our development based on their strong work ethic, attention to detail and well respected sales team. They have been proactive from the beginning and integrated themselves into our team seamlessly.

Khurram Saeed
Director – ResiVentures

Subscribe to our newsletter