The famous dashboard week at Data School Down Under kicked off yesterday. Our first task was to use Domain group’s free API to get data for our visualization. We were required to explore documentation on ‘agents & listings’ and ‘properties & locations’ endpoints.
I took some time exploring the documentation on domain’s website to decide what I wanted to visualize. Considering millions of migrants flock to Sydney each year, it can be a daunting decision to choose a suburb to live in. I decided to look at whether it would make more sense to rent or buy property in the Sydney region.
- Alteryx workflow
I used a post request to obtain data for rental and sold properties in the Sydney region. The listing limit per page is 200, so I requested four times and unioned all the data. After some cleaning, it was time to dive into tableau.
Exploring data in Tableau is fun. I knew I was looking for some correlation between rental prices and sold prices for properties. Ideally one would imagine that suburbs with high rental would have expensive properties too. But that’s not the case. I found that renting in some suburbs can be a bargain. Suburbs like Castlecraig and Balmain have a median sold price of $2.4 M and a median rent price of $570 and $600 per week respectively. Whereas in some renting comes a premium, for example Willoughby and Milson’s point both have a median sold price of $0.9M and a median rent price of $1150 and $950 per week respectively! I’d say one would be better off buying a property in these suburbs than renting.
Price is not the only factor before deciding where to buy but it definitely is worth considering.
Let’s see what our coach, Craig has in store for us on day 2.