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 | Jan.’20

• Housing demand will continue to exceed supply due to population growth from overseas migration.
• December 2019: first time the metropolitan house values have surpassed $850,000.
• Owner occupier home loans increased in value and number in November.
• Greater Melbourne’s median lot price is down -0.2% to $324,000 from last month.
• Most popular selling land size 300-400sqm in the western corridor and south-east corridor.

Red23 Research Hub | Nov.’19

• Dwellings approved in Australia fell by 0.8% in September.
• New homes in growth areas have fallen in all areas except Cardinia and Greater Geelong.
• Job growth remains strong, particularly in household services and healthcare.
• Non-residential construction continues its boom period.. but only for another 12 months.
• Lot prices in Greater Geelong is just under $40,000 more affordable than the growth area median price.
• Greater Melbourne’s median lot price is down 5.8% (-$18,800) to $325,000 from a year ago.

Red23 Research Hub | Oct.’19

• Consumer Sentiment falling 5.4% to 92.8 in October from 98.2 in September.
• The war on bank lending continues.. good news for high quality borrowers.
• House prices have risen by 1.9% to $729,052 in Melbourne and Units up 1.4% to $546,203.
• Another rate cut was on the cards at November’s meeting... to support sustainable growth in the economy... however now not likely.
• Cardinia now the most expensive growth area with a median price of $349,000.
• Gr. Geelong had a YOY price uplift of 0.7% and a MOM change of 0.94% or $2,750.

Red23 Research Hub | Sept.’19

• Melbourne returned a final auction clearance rate above 70 per cent for the sixth consecutive week last week, while Sydney held above 70 per cent for the ninth consecutive week.
• The Melbourne median dwelling price rose to $626,703, up 1.4% in the 30 days to August.
• Gr. Geelong continues to be the biggest winner with and year on year land price increase of 15.06%, a 30 day increase of 1.83%.
• Casey now the most expensive growth area with a median price of $351,000, surpassing Hume ($342,000).
• Growth area land prices stabilised in July, with no change in price at $333,000, followed by a fall in August, now sitting at $330,000.

Red23 Research Hub | Aug.’19

• Melbourne growth area median land price has remained stable at $333,000.
• 158 land projects within the growth areas alone, above the long term average of 137 projects.
• Dwelling approvals for new homes in growth areas have fallen in all areas except Melton, Gr. Geelong and Wyndham.
• Established home listings down 29.3% and clearance rates above 80%.
• The market has reached the bottom and the 2020 financial year will be stronger.

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.