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.’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.

Red23 Research Hub | Mar.’20

• The median land increased in February and is now at $325,000.
• Master planned communities were witnessing double digit sales numbers in February as market confidence returned.
• Short-term demand for housing  will be stalled due to pandemic.
• Westpac consumer sentiment fell 3.8% over March to a 5 year.

Red23 Research Hub | Feb.’20

• Over 7,500 land sales across the 7 growth areas in 2019.
• Greater Geelong price growth per annum outperforming Greater Melbourne.
• 170 land projects within the growth areas alone at the end of 2019.
• Median price remained relatively stable at $323,500.
• Rapid price growth per annum effects on sales volumes.

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.