A new tool can help you identify where to look
This new realestate.com.au tool, which calculates each suburb’s median estimated price per square metre (based on plot size), can help you zero in on suburbs which give you more bang for your buck. That’s because not only does it give you the median valuation per square metre for the suburb you select, but it also gives you the same data for the immediate surrounding suburbs. This can allow you to shift your search focus to another nearby suburb if it offers a more attractive estimated price per square metre. For example, Teneriffe is one of Brisbane’s most expensive suburbs and topped that city’s list with a median estimated property price of $5196/sqm based on a median plot size of 441sqm. However, about 400 metres away is the suburb of Bowen Hills, with a median estimated property price of just $1621/sqm based on an even bigger median plot size of 652sqm. Not bad, when you consider the world’s fastest men’s 400-metre dash is 43.03 seconds…
Properties are selling faster than ever
Here’s the thing: chances are you won’t be the only one on the hunt for a bargain. In fact, properties are selling at record speed at the moment, with the average number of days spent listed on real estate sites falling to a historic low of 32 days in May. To help increase your chances of securing a property in this hot market, it’s a good idea to explore your borrowing options early. So if you’d like to find out more about what you need to do to help make your home-ownership dreams a reality, get in touch today. We’d love to help out.