For any data (about anything) you can only ever pick two of the three...
FREE COMPLETE TIMELY
The APM results are free and timely. You can't expect them to be complete.
I do though, because the company makes it living from monitoring property, they should delay their report if it isn't complete. I would never have given my boss (when I had one) incomplete reports.
"If man is to survive, he will have learned to take a delight in the essential differences between men and between cultures. He will learn that differences in ideas and attitudes are a delight, part of life's exciting variety, not something to fear." - Gene Roddenberry
"Balloon animals are a great way to teach children that the things they love dearly, may spontaneously explode" -- Lee Camp
I would never have given my boss (when I had one) incomplete reports
What if your boss had instructed you to provide a report, by the end of the day, based on a survey of a statistically significant sample of the population? Would you refuse, and say 'no, I will only report based on a 100% survey, but it will take me three months'. What if your boss then says he just needs a sample and needs it today?
Kulganis
16 Dec 2013, 09:25 AM
I do though, because the company makes it living from monitoring property, they should delay their report if it isn't complete. I would never have given my boss (when I had one) incomplete reports.
1. Do you believe the ABS should delay the monthly unemployment report until it has complete data (i.e. until they survey Australia's entire adult population each month)?
2. There is demand for a timely and free snapshot of the auction results on Saturday. Why should APM stop catering to this demand just because some people prefer to wait for complete data?
Ex BP Golly
16 Dec 2013, 09:30 AM
the other providers so closely follow the leader (apm) suggests market manipulation/ cartel behaviour
Cool theory.
Quote:
Just because you accept it, doesnt mean everyone else has to accept it.
So if you don't accept it, what are you going to do about it?
I do though, because the company makes it living from monitoring property, they should delay their report if it isn't complete. I would never have given my boss (when I had one) incomplete reports.
If you are prepared to wait (till all the auctions are lodged with the Lands and Titles Office) and willing to pay for the title searches, you can have a 100% complete picture which houses were sold that day and which ones weren't. So the information is available to the public ... it just isn't free or timely.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
The APM results are *great*, when you are actively looking to buy/sell in the current market, because a) they are timely (you get them at about 7pm on the Sat evening), but more importantly, they produce a report which links each and every included reported result to the domain advert for the proprty. This means I can look at exactly what sort of property sold (or didn't sell) for a particular price etc.
If a result is missing that I might be interested in (as has been the case in the past) I simply ring the agent directly and find out what hapenned.
So bugger waiting a week or months for this data thanks very much! To people actually in the market the timely APM data is enourmously useful, and I think its limitations are well understood by those users. If housing-bear-keyboard-warriors want more accurate, complete data, then they can bloody well wait for the Residex or RP data result a week later, but lay off the other data that is actually awesomely useful to everyone else thanks very much!
What if your boss had instructed you to provide a report, by the end of the day, based on a survey of a statistically significant sample of the population? Would you refuse, and say 'no, I will only report based on a 100% survey, but it will take me three months'. What if your boss then says he just needs a sample and needs it today?
1. Do you believe the ABS should delay the monthly unemployment report until it has complete data (i.e. until they survey Australia's entire adult population each month)?
2. There is demand for a timely and free snapshot of the auction results on Saturday. Why should APM stop catering to this demand just because some people prefer to wait for complete data?
No, I would not refuse an instruction to give a partial report, but I would make it clear at least that the report was partial. The APM reports are titled 'Auction Results' not 'Preliminary Auction Results'.
And yes, I do believe that the ABS should be have as complete data as possible before they hand out figures to the public, regardless of how long it takes for them to generate it.
APM shouldn't stop catering to the demand, but they should be more open about the fact that they are working from incomplete data sets and that the real values may differ from their reported values.
"If man is to survive, he will have learned to take a delight in the essential differences between men and between cultures. He will learn that differences in ideas and attitudes are a delight, part of life's exciting variety, not something to fear." - Gene Roddenberry
"Balloon animals are a great way to teach children that the things they love dearly, may spontaneously explode" -- Lee Camp
The APM reports are titled 'Auction Results' not 'Preliminary Auction Results'.
When the results are reported in the paper etc, they always state something like "APM preliminary auction results based on those reported by 6pm Sat were.....". It's pretty clear!
For Aussie property bears, "denial", is not just a long river in North Africa.....
That I can't comment on, because I don't read newspapers, useless advertorial rubbish as far as I'm concerned.
"If man is to survive, he will have learned to take a delight in the essential differences between men and between cultures. He will learn that differences in ideas and attitudes are a delight, part of life's exciting variety, not something to fear." - Gene Roddenberry
"Balloon animals are a great way to teach children that the things they love dearly, may spontaneously explode" -- Lee Camp
The APM results are *great*, when you are actively looking to buy/sell in the current market, because a) they are timely (you get them at about 7pm on the Sat evening), but more importantly, they produce a report which links each and every included reported result to the domain advert for the proprty. This means I can look at exactly what sort of property sold (or didn't sell) for a particular price etc.
If a result is missing that I might be interested in (as has been the case in the past) I simply ring the agent directly and find out what hapenned.
So bugger waiting a week or months for this data thanks very much! To people actually in the market the timely APM data is enourmously useful, and I think its limitations are well understood by those users. If housing-bear-keyboard-warriors want more accurate, complete data, then they can bloody well wait for the Residex or RP data result a week later, but lay off the other data that is actually awesomely useful to everyone else thanks very much!
+1 I think the naysayers just don't know to use the info it contains If you don't think it is useful ... stop using it ... simple
I found it very useful as it's a leading indicator and pretty accurate one as well. I used it to help gauge the strength of the property market in Sydney and decided when to stop purchasing cos demand was too high. It was way in advance of the rise in median prices and way sooner than the complete results I could obtain from the Lands and Titles Office (and its free!)
And yes, I do believe that the ABS should be have as complete data as possible before they hand out figures to the public, regardless of how long it takes for them to generate it.
You would be happy with the ABS spending billions of dollars of taxpayer money to survey 15 million people each month? Glad you're not running the country.
Quote:
No, I would not refuse an instruction to give a partial report, but I would make it clear at least that the report was partial. The APM reports are titled 'Auction Results' not 'Preliminary Auction Results'.
The report makes it very clear that the results are not comprehensive. This text is contained in the body of the report...
These auction results are compiled by Home Price Guide ® (Phone: 1800 817 616) based on results collected on or before Saturday 14th December 2013. For a more comprehensive list of results covering all reported sales by postcode for the past 12 or 24 months, visit www.homepriceguide.com.au.
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