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 | Aug.’18
- Median land price falls for the 3rd consecutive month to $345,000.
- The near 1% decline equates to around $100 per day.
- The median land price has now fallen by close to 3% over the last 90 days.
- Five of the 7 municipalities recorded a drop in price during July: Mitchell remains the most affordable municipality ($285,000).
- Over the last 24 months, the percentage of small lot product (less than 400 sqm.) in the market has risen from 44.9% to 47.3%.
Red23 Research Hub | Jul.’18
- Melbourne’s median growth area land price drops for the second consecutive month.
- The 0.7 per cent drop equates to $2,500, or around $85 per day.
- That said, over the 12 months, the median land price has increased by 23 per cent or around $65,000.
- More projects launched than completed over the last three years, a net increase of around 18,000 lots.
- During Jun. ’18, six of the seven growth area municipalities recorded a fall (excluding Hume).
Red23 Research Hub | Jun.’18
- Melbourne’s median growth area land price is now $350,500, a MoM fall of 0.6 per cent ($4,500): the first fall since the beginning of 2017.
- Albeit, land prices have still risen by 27 per cent, YoY.
- Point Cook remains the most expensive suburb ($499,000), while Melton South ($269,000) is the most affordable.
- Whittlesea recorded largest MoM land price fall of 3.7 per cent ($14,000).
- The median land size remained steady for the month (445 sqm).
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