Report on Statistics Regarding Australian Real Estate Market

National residential prices fell for the eighteenth back to back a month in April 2019, recording a - 0.5% decrease

Throughout the month, joined capital city prices fell by - 0.5% which was the littlest decrease since October 2018.

The consolidated local markets recorded a - 0.3% fall.

Over the previous year, national dwelling prices have fallen by - 7.2% which is their biggest yearly fall since February 2009.

Consolidated capital city residential prices were - 8.4% lower throughout the year and joined territorial market prices were - 2.6% lower.

The quantity of property exchanges is down 14.4% broadly year on year, Adelaide and Darwin were the main urban areas where deals volumes ascended throughout the year.

        Month to month value decays are currently directing, recommending that we are most likely past the most noticeably terrible and costs should start to settle by late 2019. Nonetheless, it would seem that this will be the longest and most profound property downturn in present day history, regardless of the way that the hidden financial basics are sound (YARDNEY, 2019).

        Merchants appear to have the message that is anything but an incredible time to sell, with less new postings being added to the market than over late years, while complete promoted stock dimensions are following a lot higher, due to a slower rate of incorporation (YARDNEY, 2019)

        The pattern in populace development has facilitated over the year closure March 2018, as both the rate of net abroad relocation and the rate of common increment fell. Slower populace development has negative ramifications for residential demand (YARDNEY, 2019).

Top Australian Property Websites

Realestate.com.

        The real estate.com.au is among the top property website in Australia and will be the major competitors for us. The website provides a lot of information to the buyers & sellers like the location of the property, postcode, region, address and property rates.

Domain.com.au

        It is the second largest real-estate website in Australia. All the buyers have to do is to enter the name of the property and website will provide all the details; the website also saves the history of the search (Beattie, 2018).

Is investing in the project Worth It?

        The real estate.com.au app has been downloaded 7.9 million times up to June 2018. The user has given a rating of 3.8 on Google Play whereas Domain app has been downloaded 6.5 million times up to August 2018 (Beattie, 2018). Through these statistics, it can be said that the trend property search through website & applications is increasing in Australia, which provides an opportunity for the other businesses to enter into the real estate market. Creating a new website which provide similar features like Domain & Realestate will definitely become popular in Australia. So investing in this project is a win/win situation.

Reference of Statistics Regarding Australian Real Estate Market

Beattie, D. (2018). 10 popular real estate & property apps in Australia. Retrieved from https://www.savings.com.au/home-loans/popular-real-estate-apps-australia/

YARDNEY, M. (2019). State by state: A May update on Australia’s property markets. Retrieved from https://www.smartcompany.com.au/industries/property/may-2019-update-property-markets/