28 June 2011

The Commonwealth Bank of Australia has launched a new tool for homeowners, giving them access for the first time to detailed RP Data information about their suburb.

Commonwealth Bank has teamed up with RP Data to provide real estate enthusiasts with real time information on suburbs around Australia. 

The new Home Buyers Index tool predicts trends in living and real estate conditions more accurately.

The Home Buyers Index is a free guide, also available to non – Commonwealth Bank customers. It offers insights into whether a particular region is a buyer or seller’s market.

The new tool gives users access to median prices and capital growth, age sex ratios, household incomes, household structures and household occupancies.

Looking at the suburb of Parkside, the Home Buyers Index shows the median sale price of houses in the area is $560,000. Parkside residents are likely to work in a professional occupation with the predominant age range being 30–39 years. 

The data also shows 20% of houses are made up of couples with children and that 27% of the population owns their property outright. 

For further information on the Home Buyers Index click here.