Property data and analytics firm CoreLogic NZ had released its latest Mapping the Market report, and it offers potential homebuyers new market insights including suburbs that match their budget.
The report uses location analytics and geospatial expertise to provide a better understanding of New Zealand’s property market. The idea is that homebuyers can click on a particular suburb anywhere in NZ and see its current median property value. It features colour-blocking to show suburb median that is high (purple) as well as those available for lower prices (light orange) for a particular market.
“Like the saying goes: sometimes, a picture really can paint a thousand words,” CoreLogic senior economist Kelvin Davidson said. “This updated visualisation tool uses GIS technology (and millions of data-points in the background) to deliver an easy to interpret explanation of the current property market.
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“It’s ideal for discovering other suburbs that may have previously been excluded from a homebuyer’s frame of reference,” he noted. “It’s very easy to see which local suburbs sit within a particular budget.”
Moreover, the Mapping the Market tool provides a five-year snapshot, comparing median values in June 2014 to June 2019. It also provides key market commentary from the CoreLogic research team, with data highlights and trends provided for each major city and anywhere in New Zealand.