Property investors need to know the three main statistical metrics and how they each offer a unique perspective on market values.
Firstly, it’s important to remember the three main statistical metrics and how they each offer a unique perspective on market values.
That all sounds clear and reasonable, but it’s how these tools are applied that can create differing and sometimes misleading perceptions.Some data analytics firms aggregate capital city data, providing median values based on all sales irrespective of the type of property. In another twist, when the data is broken down by property type and units are excluded, the price comparison between the two cities shifts significantly. Melbourne’s house prices come out well in front at $1,039,719, compared to Brisbane’s $947,464.
The reality is there is no one statistic that can give you a true read on the market. There are different takeaways that can be gleaned from a dataset depending on how it is viewed. And investors need to be able to balance off these particular slants when incorporating market statistics into their investment decisions.
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