New online tool streamlines property search

New online tool streamlines property search

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A new feature on a popular real estate portal now caters directly to investors, linking market statistics to property listings.

The website has launched an investment section providing market information on specific property types in each suburb around Australia.

REA Group chief product officer Henry Ruiz said the launch would make the property buying process easier for investors.

“Property investment is a big decision. We saw a gap in the market to support consumers who are considering property investment and want to understand property market performance in greater detail,” he said.

The new function allows investors to search for information on the basis of their desired suburb and property type.

The site then displays market performance for that specific product. The available data includes five-year growth, median price and rent, rental yield, rental demand and stock on market.

From the market information, investors can click through to see property listings matching their search criteria in each area.

Another feature allows investors to see which suburbs in each state have the best performance for each property type.

“It is backed by our extensive database of property information, generated by the most in demand property portal in Australia,” Mr Ruiz said.

In future, the site will allow investors to narrow down their search by potential cash flow and compare historic suburb performance. However, these features have not yet launched.

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