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A new research tool launched by buyer’s agency network BuyersBuyers promises to take the guesswork out of suburb selection by using artificial intelligence to match a purchaser’s budget with their best prospects for capital growth.
A new research tool launched by buyer’s agency network BuyersBuyers promises to take the guesswork out of suburb selection by using artificial intelligence to match a purchaser’s budget with their best prospects for capital growth.
BuyersBuyers co-founder Pete Wargent said the unique Where to Buy tool provided answers on which location and what sort of property would be the best choice for investors or owner-occupiers under a specific budget.
“We’ve created a simple online process that improves the customer journey, and can help buyers to reduce time, cost and stress in their search,” Mr Wargent said.
The tool, which was developed in collaboration with RiskWise Property Research, assesses metrics including housing supply, median values, 12-month price growth and vacancy rates to determine whether the locations would provide risky or rewarding prospects for investment.
RiskWise Property Research chief executive Doron Peleg said the new offering would complement a suite of research tools developed in conjunction with BuyersBuyers that were free for subscribers.
“For example, for 2022, we ran a list of thirty suburbs which are expected to perform well for investors with a budget of up to around $1 million,” Mr Peleg said.
“The list comprises houses in suburbs in Brisbane, Sunshine Coast and Gold Coast in Queensland, as well as regions of Greater Melbourne, Geelong, Bendigo, and Ballarat, in Victoria.
“The list also includes a range of suburbs in Sydney, for investors wanting to buy a unit for under $1 million, as well as houses in the regions to the north, west, and south of Sydney.
“The beauty of this tool is that buyers can isolate the area that they want, the property type they want, whether it’s a house or a unit.
“And for those with a higher or lower budget, or requiring a higher yield of, say, 4 per cent or higher, the Where to Buy tool can adjust for those criteria and provide a suburb shortlist accordingly. It’s very user-friendly and simple to operate.”
Mr Wargent said free property market tools such as the Where to Buy report were becoming increasingly crucial for investor success, with prospective buyers becoming increasingly better informed as technology developed.
“We also provide, for example, free valuation reports, for those wanting to know the value of a specific property, suburb risk reports by property type, and regional property market and economic analysis for every region across Australia,” he said.
“Thanks to our sophisticated AI and machine learning, we have many other property market tools which we will make available in due course.
“At the present time, and in today’s hot housing markets where stock levels are tight, the Where to Buy tool is a key piece of free research which every property investor and homebuyer should have in their toolkit”
The Where to Buy tool is available for free on the BuyersBuyers website.
Top 30 suburbs for investors with a $1 million budget
Suburb | State | Property type | Median price |
---|---|---|---|
Aspley | QLD | House | $763,850 |
Wavell Heights | QLD | House | $980,221 |
Brighton | QLD | House | $726,088 |
Southport | QLD | House | $754,191 |
Robina | QLD | House | $934,973 |
Tewantin | QLD | House | $859,968 |
Buderim | QLD | House | $935,162 |
Maroochydore | QLD | House | $868,834 |
Dee Why | NSW | Unit | $1,002,844 |
Leichhardt | NSW | Unit | $988,324 |
Ashfield | NSW | Unit | $749,536 |
Kensington | NSW | Unit | $996,861 |
Kingsford | NSW | Unit | $937,754 |
Surry Hills | NSW | Unit | $984,316 |
Marrickville | NSW | Unit | $839,969 |
Turramurra | NSW | Unit | $967,720 |
Mount Annan | NSW | House | $891,346 |
Bateau Bay | NSW | House | $907,327 |
Woy Woy | NSW | House | $888,326 |
Charlestown | NSW | House | $745,842 |
Albion Park | NSW | House | $831,830 |
Ulladulla | NSW | House | $812,619 |
Moss Vale | NSW | House | $946,876 |
Mittagong | NSW | House | $930,793 |
Pascoe Vale | VIC | House | $1,081,912 |
Reservoir | VIC | House | $934,598 |
Croydon | VIC | House | $989,509 |
Belmont | VIC | House | $728,734 |
Woodend | VIC | House | $990,830 |
Daylesford | VIC | House | $845,813 |
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