With capital city home affordability in the spotlight, realestate.com.au has launched Discover, a property search experience to help buyers explore a wider range of homes suited to their lifestyle and budget.
To get started, home buyers simply need to visit realestate.com.au/discover and enter a suburb and monthly repayment. They are then presented with current property listings in suburbs that best match the search criteria, based on median sold prices and lifestyle demographics.
Helping home buyers uncover suburbs they might not have considered before, the tool provides an overview of each suburb, including sold properties, nearby schools, and a percentage rating similarity to their ideal suburb based on local demographics.
Henry Ruiz, Chief Digital Officer for REA Group, commented: “Discover is an incredibly useful tool that makes it easier for home buyers to understand which suburbs could meet their budget and lifestyle needs. By encouraging property seekers to expand their search area, agents have more opportunities to reach potential buyers.”
A home buyer looking for a one bedroom apartment in Leichhardt NSW with monthly repayments of $2500 and a 20% deposit would be recommended to also look in Stanmore, St Peters, Forest Lodge and Annandale based on their high similarity rating to Leichhardt.
In Victoria, a home buyer seeking a one bedroom apartment in Abbotsford with monthly repayments of $2000 and a 20% deposit would also be recommended Fitzroy North, Clifton Hill, Brunswick East and Carlton North given their similarity rating.
A Queensland home buyer looking for a one bedroom apartment in New Farm with monthly repayments of $1600 and a 20% deposit would also be recommended to look at properties in Kangaroo Point, Spring Hill, Milton and West End based on their high degree of lifestyle and demographic similarity.
For examples in other states and territories, visit realestate.com.au/discover