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"Kallangur Market is up 120% @ Dec 2015 from Dec 2014"

Discussion in 'General Property Chat' started by markson, 10th Mar, 2016.

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  1. markson

    markson Well-Known Member

    Joined:
    14th Feb, 2016
    Posts:
    310
    Location:
    NSW
    So I am browsing realestate.com.au and come across the following listing:

    86/58-64 Goodfellows Road Kallangur Qld 4503 - House for Sale #122146846 - realestate.com.au

    The listing quotes "Latest Market Snapshot shows us the Kallangur Market is up 120% @ Dec 2015 from Dec 2014 and not slowing down anytime soon by the looks of things!"

    Now I must be doing something wrong with my research because I cant see where those figures come from! These are the results I get from SQM. So either I am really wrong with my research methods or this REA is crazy!

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  2. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    Well, SQM data is for asking prices, not sold prices...

    ....but the sold prices data around doesn't seem to align with her numbers (even if you remove the 0, which surely had to be a typo).

    Drop her a line and ask where the numbers are from :)
     
  3. markson

    markson Well-Known Member

    Joined:
    14th Feb, 2016
    Posts:
    310
    Location:
    NSW
    Even the residex data doesnt even come close.

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  4. Tyler Durden

    Tyler Durden Well-Known Member

    Joined:
    19th Jan, 2016
    Posts:
    281
    Location:
    Australia
    Just another agent, plying now lows and testing the greater fool theory.

    Sold for $285,000 in December 2007, now on the market at 299k. 0.7% YoY capital growth.....

    But this time WILL be different :D

    Forget that there have been hundreds, if not thousands more of these things built. Off the top of my head I can think of three, 100+ townhouse developments in the 4500 postcode that have been built in the last 3 years and another that's half completed....