Understanding Price Data Differences
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English - June 10, 2022 00:57 - 5 minutes - 5.18 MBInvesting Business Society & Culture Places & Travel hotspotting propertyinvesting propertyinvestment firsthomebuyer smsfpropertyinvestment Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
With so many organisations analysing the property market, it can be hard to determine just who has the right reading on what is happening with prices across Australia.
And there is the distinct possibility that none of them is correct.
I recently did an online search for the median house price for a particular suburb and came up with six different figures from six different data sources.
The difference between the highest and lowest figures was more than $100,000 – the lowest was $628,000 and the highest was $737,000.
You can search any suburb or town in the nation and you will find similar results – huge differences in the numbers which purport to describe the median house price in any of those locations.
You will find a source that says prices are rising in a particular location and some which say prices are falling there.
It’s no wonder people are confused about what is happening.