In general what sales data can buyers, owner occupiers and investors find for free?  Median price suburb growth data.  Oh no. 

You say median price suburb growth data?  Oh no disaster!

This data usually comprises sales data for ALL property (e.g. houses) and will not reflect very accurately the median price growth rate for your specific property type.  Let’s say for example we look at a  4  Bed, 2 bath B & T house on 500sqm lot, single residential development potential on a quiet street.

This median price suburb growth data will include ALL house sales. The whole mish mash. Like:

Property Sales Data Level One

• 2 bed, 3 bed, 4 bed, 5 bed etc
• 1 bath, 2 bath, 3 bath
• brick and tile roof
• brick veneer and tile roof
• Fibro and tile roof
• Fibro and fibro roof
• Weatherboard and tile roof
• Other varied construction materials
• small e.g. 350sqm lots
• medium e.g. 500 – 600sqm lots
• large e.g.  900 – 1100 sqm lots
• Year built – any year. so old and new

Property Sales Data Level Two

• Locational factors e.g. property with views of industrial area and premium property with water/river views.  Just not comparable!
• Property on busy highway versus property in a quiet culdesac.
• single residential lots, duplex residential lots and multi unit lots
• Shape of the lots can vary
• High development potential and nil development potential

Let’s say we look at a 4  Bed, 2 bath B & T house on 500sqm lot, single residential development potential.

• Is sales data for villas relevant? No.
• Is sales data for 3 bed, 1 bath brick veneer and tile houses on 1000sqm and duplex potential relevant? No. 
• Is sales data for 5 bed, 2 bath houses relevant? No.
• Is sales data for property that can duplex, triplex, quad etc relevant? No.
• Is sales data for weatherboard and tile houses relevant? No.
• Is sales data for premium homes with water views relevant? No

That would be comparing apples to pears.

In short the median price suburb growth data is just not comparing apples with apples.   Median price suburb data can be skewed, and the sample size can be small and not valid.  Therefore the median suburb  data can be misleading and deceptive.

Comparative sales data analysis over time and growth trends can be measured. 

Would you like to understand what the growth rate of your specific property profile is?  

Would you like to understand how your property asset is growing?

The level of information available is highly revealing.

Check out ” How can you measure the price growth of your property?”

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