What statistics do you use ?

Hi all,
Just got through reading the latest article from Terry Ryder here

He writes about the great disparity in numbers between the core providers of RE stats, which begs the question ... what stats do you use ?

If all of them, how do you rationalize them ?

Or are there some other sources of data that you use to make sense of it all ?

thanks

Tim

 

After seeing that RP Data has my 3 bedroom townhouse listed as a 2 bedroom with only half the floor space of similar properties in the same suburb, I would not trust them. I look at the sales prices for similar properties on realestate.com.au and check out the photos and map used in their advertisements. I check comparable properties for sales and rents just like you would check comparables if you wanted to buy or rent one for yourself. PS check distance on the maps for walking distance to local amenities, train stations and land size.

 

Days on market is perhaps the best indicator of demand and therefore whether asking or accepted prices are within the expectation of the market.

 

I agree
I generally prefer to get my stats from those on the ground because they will be far more accurate, but you need to phone many agents not just one.
Also what product is selling, ie houses/units, what is in demand??

 

Case in point. House behind my PPOR just sold after 3 days on Market. An agent's letterbox drop confirmed the price it sold for.

This 3-bedder is almost identical to a house next door ( same spec-build design ). Difference in price +$165k in 11 months. The market is moving here ( Rouse Hill ) and is a 20% movement in price .

My neighbours will be happy - they got a bargain!

 

that's exciting where is Rouse Hill?

 

In the Hills District of north-west Sydney. A new metro-style railway line will finish construction in 2019.

The modern/new town centre opened in 2008 is a major factor in the walkability and desirability of the area.
Rouse Hill Town Centre - Wikipedia

 

I look at data on realestate.com.au, yourpropertyinvestmentmag and Real Estate Investar. They are all inconsistent, but I find that Real Estate Investar is always completely different, where as the first two seem to be more consistent with each other.

I also use dsrdata, but the free version gives mostly different information to the three previously mentioned sources.

But I still am not sure who's the most reliable!

 

That is exactly why I don't use them, because they are next to useless and will confuse. They are far too broad to provide accurate information.

The only stats I use are the sales stats, volume, days on the market

I look at median house prices only to gage an estimate, once again these are not to be replied upon, its too broad, everything bundled together. Just use it as a guide only

 

I heard on a pod cast that Comm Bank has average income per household for each suburb compared to average mortgage per household. From what I understand they had assumed 80% of the average house value to establish a mortgage figure.
Does anyone know where I could find this?