Just wondering why most of the areas in the map are grey (rather than the various shades of red/pink as the legend shows).
It is great that the key statistics come up when you hover over an area (I assume these stats come from info gathered by RE.com as opposed to sourcing directly from RP data).
cheers, that is a pretty good tool.
where it says "5 year growth", is that the average annual growth for the last 5 years?
For e.g. it states for 2br Units in Marrickville NSW 2204 - 5 year growth: 10%.
Does that mean it has grown on average of 10% anually for the past 5 years?
I never understood why investors take into account past growth performance of a suburb. If all asset markets behave in the same way (and there's no reason they don't) the real estate market should at least be weakly efficient meaning past performance should have no bearing on future performance, right?
I never understood why investors take into account past growth performance of a suburb. If all asset markets behave in the same way (and there's no reason they don't) the real estate market should at least be weakly efficient meaning past performance should have no bearing on future performance, right?
You make a valid point; howver that is not the only thing an investor would look at. There are many reasons as to why an investor may choose to invest in a particular suburb.
Being aware of past performance may assist in gauging at what part of the property cycle a particular area is in. Also it can show the volatility of an area for e.g. some regional areas may have strong growth for a couple years then suddenly decline or stagnate for many years there after. By investigating the reasons for these peaks and troughs can help one get a better understanding of a given area. Not many investors want to buy at the top of the market, one way to avoid this and to make a better educated decision is to look at past growth i believe.
You make a valid point; howver that is not the only thing an investor would look at. There are many reasons as to why an investor may choose to invest in a particular suburb.
Being aware of past performance may assist in gauging at what part of the property cycle a particular area is in. Also it can show the volatility of an area for e.g. some regional areas may have strong growth for a couple years then suddenly decline or stagnate for many years there after. By investigating the reasons for these peaks and troughs can help one get a better understanding of a given area. Not many investors want to buy at the top of the market, one way to avoid this and to make a better educated decision is to look at past growth i believe.
Just wondering why most of the areas in the map are grey (rather than the various shades of red/pink as the legend shows).
It is great that the key statistics come up when you hover over an area (I assume these stats come from info gathered by RE.com as opposed to sourcing directly from RP data).