Thursday, July 17, 2014

Property market analysis with Thematic Mapper

One distinctive advantage of presenting information on maps rather than in tables is the ability to visualise geographic distribution of phenomena under investigation. In other words, choropleth (thematic) maps are a perfect tool for highlighting differences or similarities between areas, or for presenting spatial patterns.

Thematic Mapper has recently been used in the analysis of changes in median prices over time for Local Government Areas in the Sydney Greater Metropolitan Region.

The map clearly shows spatial pattern that median prices of properties located closer to the city centre grew faster than those located further away and also that the growth rate was dependant on the distance to the city centre (that is, the further away the property was located, the slower the growth was). 

This simple visualisation technique allowed drawing a conclusion that properties located close to the city centre offer the best capital return in the long term. Ultimately, it allowed resolving decisively the dilemma of every prospective property purchaser as to “where to buy”.

Read full article on Property Observer website.  

No comments: