Over the past five years, Australians have kept a keen eye on the property market and watched construction boom, interest rates fall, and investors clamour to get a piece of the pie.
For many, these trends symbolise a vanishing dream of home ownership; perhaps due to the prioritisation of smashed avocado, or perhaps a combination of tax benefits and abundance of credit that have disproportionately benefitted investors over first home buyers who don’t have access to Bank of Mum and Dad. Who knows!
In an effort to democratise this data we’ve put together an interactive dashboard with the magic of Tableau, to illustrate median prices over time for established and attached (e.g. apartment) property sales.
Whether or not you believe a bubble is brewing, the data speaks for itself. Choose your city below:
A few notes on interpreting the data
Established houses are detached residential properties on their own block of land, whereas attached dwellings share a structural component with one or more other buildings (e.g. walls, ceiling, floor or roofing.) An attached dwelling may be an apartment, unit, flat, or semi-detached, row or terrace house.
The data in this visualisation sourced from the Australian Bureau of Statistics is raw, unstratified data. This means no stratification (i.e. separating residential properties into sub-samples before analysis) or weighting has been applied to these property prices. As such, this data won’t take into account variations by suburb or intrinsic house characteristics such as number of bedrooms.
The data also uses median prices, which means that for each capital city and dwelling type, 50% of all property prices lie above the median and 50% lie below. The benefit of using the median is the data gives us a more robust statistic, which is less affected by outliers than a mean average property price.
More information on this dataset is available via the Australian Bureau of Statistics.