Hello everyone, Thomas Wilson here. Currently I am getting a proposal together for a property joint venture. This is the first proposal I have done. I am currently getting information together about medium house prices for the last 15 years. I have noticed many sources are available such as REIA,RESIDEX and ABS. Just wondering who people would recommend for such information? is one better then the other? does all there information come from the same place? Any information or help you could give me would be great.[biggrin]
Originally posted by tljw1:Hello everyone, Thomas Wilson here. Currently I am getting a proposal together for a property joint venture. This is the first proposal I have done. I am currently getting information together about medium house prices for the last 15 years. I have noticed many sources are available such as REIA,RESIDEX and ABS. Just wondering who people would recommend for such information? is one better then the other? does all there information come from the same place? Any information or help you could give me would be great.[biggrin]
No, surprisingly all the data is not the same. You will get different median prices from each of the providers you mention. It has to do with the data they sample and the timeframes for collecting the data.
I believe Residex’s method is the most accurate being a statistical model, as it does not only rely on sales data. You see some unusual sales, or a new development of different type and price of dwelling can scew the figures from other providers.
Having said that if you are proviving information for a proposal for others, it would make sense to stick to the industry standard – the REIA – their data is not expensive.
Michael Yardney
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