Suburb Trends November 2021 | How Do Renovations Skew Price Growth Data?

From The Elephant In The Room Property Podcast | Inside Australian Real Estate Chris Bates

Property prices rise more rapidly in some suburbs than others and it makes one wonder - what could be behind this movement?

Is it purely due to established properties in the area being in high demand, or do building projects & renovations have a hidden impact on price growth?

Today, we’re joined by our resident geek Kent Lardner for this month’s Suburb Trends episode! He takes us through his research on the impact renovations have on price growth data, where the ABS renovation values come from, the Gold Coast hinterland’s growth anomaly and more!

If you enjoy the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at [email protected]!

See you in the episode!

Episode Highlights:

Kent’s approach on researching the impact renovations have on price growth [01:09]
What else drives median prices? [02:59]
Renovation costs go beyond the renovation itself [04:31]
Where do the ABS renovation values come from? [06:24]
A deeper look at the growth data in certain areas [10:32]
Renovating big houses to live in versus renting them out [19:35]
The unexpected stand-out in growth [23:22]
There’s not a lot of building going on in Sydney versus Melbourne [25:39]
Comparing the price growth of Newcastle and Wollongong [27:04]
The desirability of Fig Tree Pocket, Byron Bay, and Lake Macquarie [29:48]
Why the South and Gold Coast areas are worth looking into [33:18]
The big price growth anomaly that is the Gold Coast hinterland [34:29]
What can we expect on the next Suburb Trends episode? [39:23]