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.’20
- Sales momentum continue in July creating confidence for developers to launch new projects.
- Little price movement amongst all municipalities in the last 30 days.
- Metropolitan Melbourne median land price steady at $320,000.
- 196 active land projects in Metro Melbourne and Gr. Geelong.
Red23 Research Hub | Jul.’20
- Over 5,100 sales made, indicating a stronger market than 2019 despite pandemic.
- Growth area land prices remained stable at $322,000.
- Sales momentum expected to soften in July.
- Land prices most affordable since early 2018.
Red23 Research Hub | Jun.’20
- Titled and near Titled land is the flavour of the month in May and June due to the Home Builder Scheme.
- Growth areas have approximately 3 months’ worth of stock and Geelong has approximately 4 months’ worth of Titled stock.
- City of Melton had the biggest decrease in land price of 7.86%, followed by Mitchell with 7.07%. Wyndham is another big mover with a decrease of 5.4%.
- Median land price remains steady at $323,000 and land size of 400sqms.
- Growth area suburb land prices have remained stable, decreasing by $1,000 from last month.
Red23 Research Hub | May.’20
- First home buyers have a confidence boost and making up majority of land sales during this pandemic.
- Emergence of rebates and offers being accepted in April to boost sales rates.
- Median land price remain steady at $324,000 and land size of 400sqms.
- Growth area suburb land prices have remained stable with an overall 0.7% increase in prices as a collective.
- Settlement risk strategies will put a lid on an oversupply of available land.
Red23 Research Hub | Apr.’20
- Median land price unchanged at $325,000 and median land size of 400sqm.
- 160 land projects in the 7 metro growth areas, an increase of 35 projects over 2 years.
- Supply is starting to outweigh demand due to no overseas migration and investment.
- Cardinia has regained top spot with the highest median land price, stable at $349,000.