REA Group has created a new search tool to help house-hunters uncover suburbs they might not have considered.
Discover, which has been added to realestate.com.au, is designed to make it easier for buyers to find homes suited to their lifestyle and budget.
Buyers enter a preferred suburb and monthly repayment – and are then presented with listings in a range of suburbs based on median prices and lifestyle demographics.
For example, a Sydney buyer looking for a one-bedroom apartment in Leichhardt with monthly repayments of $2,500 and a 20 per cent deposit would be invited to also look in Stanmore, St Peters, Forest Lodge and Annandale due to their high similarity rating.
A Melbourne buyer looking for a one-bedroom apartment in Abbotsford with monthly repayments of $2,000 and a 20 per cent deposit would also have Fitzroy North, Clifton Hill, Brunswick East and Carlton North suggested to them.
A Brisbane buyer looking for a one-bedroom apartment in New Farm with monthly repayments of $1,600 and a 20 per cent deposit would also find Kangaroo Point, Spring Hill, Milton and West End recommended.
REA Group chief digital officer Henry Ruiz said Discover makes it easier for buyers to understand which suburbs could meet their budget and lifestyle needs.
“By encouraging property seekers to expand their search area, agents have more opportunities to reach potential buyers,” Mr Ruiz said.
[Related: REA Group unveils next-gen marketing]