Hi all,
Here’s an article which (for those of you who haven’t seen/read it as yet) makes for an interesting read (for those in Victoria):
http://www.reiv.com.au/media/age_articles2004/pg_media_5june04_realpicture.html
Cheers,
Jo
Hi Jo,
there must be veritable books written on the ‘mischevious’ median price statistic – i would not be at all surprised if the median price continues to decrease given Vic, NSW and Qld have all offered incentives for first home buyers in their respective stamp duty concessions.
Thus increasing purchase activity in the lower price brackets, just a thought, and in my mind further confirmation that one should read and listen to as much as possible and believe nothing until its proven.
Cheers brahms
I just sold a property a few days ago in metropolitan melbourne.
I reckon I got a price similar to 6 months ago. So maybe i experienced a drop of 1%. Still not too bad.
So I feel in this instance REIV has better data.
I understand APM only report auction results whereas REIV also has private sales. I dont think APM has access to private sales. But I dont know for sure.
Hi Yack,
I would suggest that REIV only (largely?) uses information from REA and as such their figures probably don’t include private sales as their statistics as highlighted in the article come from their 700 members.
All in all it does go to highlight the accuracy of MacFarlane’s comments about the lack of hard and comparable stats in the real estate arena.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
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