Hi every1,
Just wondering if anyone here has bought the recent Property Value Investor Report (top 150 Postcodes for Units)? I am a little unconvinced with some of its capitol growth statistics. They state that Glebe in Sydney gained 239% in growth over the last 12 months! Does anyone have similar data to support this? I cant find any……there are also a few other suburbs in NSW with quite standout growths over the last 12 months.
QLD didnt have many suburbs mentioned which really suprised me…
hmm…..this is my first property investor report and im a little confused
Any help would be appreciated!
Lee
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http://www.websiteslive.comGoLive,
The last API mag says Glebe is 433k for units, with 4.5% CG for the past 12 months to March 2004.
kay henry
Email me your suburb of interest and I’ll get you the stats. API mag is usually quite reliable as they get the majority of their data from us.
Yorker
Who is “us”?
Leigh K[biggrin]
I guess it just goes to show that the “real” price is the sale price. I guess people could add 239% to the price they paid for the property last year and see how it fares- interesting experiment
kay henry
Hi everyone,
My sister lives in nearby Newton and she reckons property prices have gone up quiet a bit. I checked out realestate.com and found prices in Newtown, Prymont and Glebe to be round the 450k+ mark and this fitted in with the API mag figures. Then I did a search and found the reportsdata site info on here and look at there stats and they quoted the current median sale price of houses as $930,000!! Crikey!! Can someone please tell me whose right?? Thats a big difference!!
And Kay thanx for raising the point of “real” and “sale” price. Whats the difference??
Pepper
Pepper, $930,000 is a little more believable than the figures I have. the Property Value report I have states that the median price for units in Glebe is $1.3 Million!! Unless they sold over 100 penthouses last yr I find it a little hard to understand!
Yorker, I’m not actually interested in any particular suburb (but thanks anyway)…I just got the report to see which suburbs were performing best to give me an idea of where I should be focusing my property hunting weekends…
I know this info is available in api but I’m confused as to which is more accurate…..the $180 report or the $10 magazine?
An interesting thing about the report is that it also provides a 12 month capital gains prediction for the top 150 suburbs. Almost 70% of these suburbs are predicted to increase in value by over 25%…..I also found this a bit ifi …especially since the market has slowed in NSW.
hmm…has anyone got experience using these such prediction reports with some good results they would like to share?
Cheers,
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http://www.websiteslive.comSydney is a wonderful place,the best little town in Australia.Now that they play Aussie Rules(go the Swans),it makes this little town absolutely PERFECT!!!! SWANS 2004 PREMIERS!!!!!
Unfortunately,everyone wants to live in this little perfect town.Which makes property very expensive.
All houses will command prices of well over a million dollars in the next few years.Northern suburbs are there now.
Even the toilet of Sydney(Mt Druit),house prices have gone up to the heavens.Lovely people though.
(got to say something nice about them!).bbruham.[withstupid][inlove]
Hi GoLive,
What’s that old saying? “Lies, lies and damn statistics!” (or something to that effect). The only way IMO as to what something is REALLY worth is when you put it up for sale and you accept what you get. That’s it! The average price, (whether you want the mean or the median) can be misleading when reading stats. Kay can probably explain this better than I can but if out of say 100 properties only 1 sold for 10x the ‘value’ of all the other properties this will not mean that all the other 99 properties are now worth 10x their value. They will increase in value but many people make the misguided assumption that because 1 property sold for $x then all the rest (all things being equal) are now ‘valued’ at $x. One property sale will skew all the other property values upwards, sure but this skewing effect often misleads a value assigned to a house, a suburb, etc. I’m sure Residex, API take these things into account (I don’t know though) however data is always given in hindsight. As to predictions? You may be able to control for a lot of variables, but the fate of the future? If someone told me ‘Gats your property will increase by 9.76% this year’, then I’d be asking for tatslotto numbers!!!
Cheers,
Gatsby.Too right Gatsby!
Atleast I know not to rely too much on reports!!
Thanks for the replies guys
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