As much as I love getting stuck into a data heavy spread-sheet; I do get that not everyone is with me on that. Luckily, CoreLogic NZ has a very proud heritage and ongoing drive for geospatial excellence, so we can use that technical expertise to deliver the data story in a visual way too.
We've just released our latest CoreLogic NZ ‘Mapping the Market' report, which uses location analytics and geospatial expertise to give a visual understanding of New Zealand's property market.
When you're actively on the property search journey, it really pays to know your facts, but the NZ property market is hard to keep on top of. This year we've seen some huge changes: which means understanding which suburbs really do match your budget can be a challenge.
Just as the saying goes: sometimes, a picture really can paint a thousand words (or in this case, lines of data). Mapping the Market is an updated visualisation tool which uses a geospatial information system (otherwise known as GIS) driven by millions of data-points in the background. The result is an easily interpreted explanation of the current property market. You can click on a particular suburb anywhere in NZ and instantly see its current median property value, but you've been warned! You can become a bit obsessive with it.
It's ideal for a homeowner to discover other suburbs that they may have previously excluded from their frame of reference but actually sit within their budget. It's easy to see where these suburbs are too, because we used colour-blocking to show median values of one area relative to their surrounds…basically, anything dark purple means the suburb median is above $1.2 million, while the light orange sections show where you can still score property for under $450,000.
The tool also demonstrates the beauty of hindsight, with a five year snapshot comparing median values in October 2018 to October 2013 to show how the value of property has shifted over time. Click between the 2013 and 2018 mapped visuals to see the values have shifted across suburbs in any major city.
Complementing the visual demonstration, the interactive also provides some key market commentary with data highlights and trends for each major city.
Click here to use the CoreLogic ‘Mapping the Market' tool for yourself.