We have been doing some number crunching for Debra Goostrey of the UDIA about how far buyers are typically prepared to travel, when seeking to purchase their next property.
This analysis is important, as I have often advised clients against advertising in State papers and focusing more on a localised marketing approach, which represents a better bang for your buck!
For this exercise we examined three greenfields locations including Baldivis, Ellenbrook and Byford.
Baldivis residents, we discovered, by far tended to move from somewhere else in Baldivis (31%).
In addition half of the buyers typically moved only 10kms when purchasing a new property. This means that they tended to move from Port Kennedy or Rockingham. The furthest buyers tended to travel was 20kms.
For the Byford locale, 20% of buyers moved from within this suburb, and then half of them moved 13kms, which was typically from Seville Grove and Armadale. The furthest they travelled was 17kms.
For Ellenbrook 34% moved from within this suburb, with half the buyers moving 15.4km, which was typically from the suburbs of Stratton and City of Swan. Again the furthest they travelled was 17kms.
Where the suburbs where more established eg Baldivis and Ellenbrook there was a higher migration within these suburbs, which tends to show that buyers in these outer lying suburbs tend to be loyal to their locale.
As you can see, it does provide substantial evidence that supply of greenfield lots is also an important part of Perth’s future growth.
This data was extracted from the 2011 ABS Census and then analysed by our team, and can be done for any suburb. So if you would like to explore your own buyer’s habits more, then contact PropertyESP and we will provide some real insights!
PropertyESP loves to research sales and property trends and then share the news through motivational speaker Samantha Reece. If you are looking for an interesting insight contact PropertyESP at http://www.propertyesp.com.au