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Biggest jump in Sydney rents in four years; Sydney, a Harbinger for RE in Australia
Topic Started: 8 Oct 2015, 10:27 AM (4,444 Views)
Gossamer
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Black Panther
8 Oct 2015, 10:27 AM
Tenants in Sydney are feeling the pain as never before, with rents rising at the highest rate in four years, new data shows.

Investors looking to cover their expenses have been hiking rents in some Sydney regions, while demand on the whole has been propped up by strong migration into Sydney.

The median cost to rent a house jumped 3.9 per cent year-on-year, to $530 a week, Domain Group data released on Thursday found.

http://www.domain.com.au/news/sydney-rents-have-biggest-jump-in-four-years-domain-group-20151007-gk25l6/
Something does not add up. The following article states "Sydney average rents still rose 3.1 per cent in the year, but this was the slowest pace of growth since July 2013."

http://www.smh.com.au/business/the-economy/rental-growth-slowdown-signals-residential-property-bust-on-the-way-20150625-ghxkdr.html
Common sense is a curse - those who have it need to suffer dealing with those who don't have it.

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Nelson
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Shadow
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Chris
8 Oct 2015, 07:43 PM
So you say I'm a lunatic with conspiracy theories
I didn't say that.

Quote:
 
you openly acknowledge that what I said was correct
I didn't acknowledge that.

Quote:
 
I never stated that rents haven't gone up, I did claim they were work of a charleton something you seem to confirm
I didn't confirm that.
Edited by Shadow, 9 Oct 2015, 09:49 AM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Shadow
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Terry
8 Oct 2015, 08:18 PM
That's how most suburbanites would calculate an average across 2 data sets. An analyst worth his or her salt wouldn't.
I look forward to seeing your own calculation. How many weeks will it take you to do it properly?
Edited by Shadow, 9 Oct 2015, 09:51 AM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Terry
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Shadow
9 Oct 2015, 09:50 AM
I look forward to seeing your own calculation. How many weeks will it take you to do it properly?
That response shows why you are far more suited to trolling than you are to analytics or data- and fact-based decision making.

There's a very simple way of assigning an average without any data normalization. It should be intuitive for any analyst involved in risk management or in business analytics. I would think that a credible investor, property or otherwise, would know this as well.

So what is it?
Edited by Terry, 9 Oct 2015, 12:05 PM.
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Shadow
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Terry
9 Oct 2015, 11:46 AM
There's a very simple way of assigning an average without any data normalization
Awesome. So it shouldn't take you any more than a few weeks?
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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SteveC
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My anecdotal tale, make of it what you will. Have leased a one bed unit in Dee Why (2 blocks from the beach) since October 2013, original rent $420 per week. Landlord sold a few months ago and the new owners spent a few $k renovating the kitchen while I was overseas for a month (nothing too major, it was looking a bit tired, plus a new gas cooker). They wanted to put up the rent to $450. I said no thanks, I'll leave. We've just agreed a new 12 month lease for the same $420. I am a good tenant though. I was thinking of buying it but the asking price was $590k, too much imo.
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Terry
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Shadow
9 Oct 2015, 12:29 PM
Awesome. So it shouldn't take you any more than a few weeks?
Thank you for showing that you don't know the answer to my question and why you are far more interested in trolling than skilled in basic analytics
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Shadow
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Terry
9 Oct 2015, 01:00 PM
Thank you for showing that you don't know the answer to my question and why you are far more interested in trolling than skilled in basic analytics
You're the stats guy around here - I only know how to do suburban sums!

So, do you reckon you can have the answer by the end of the month?
Edited by Shadow, 9 Oct 2015, 01:03 PM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Terry
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Shadow
9 Oct 2015, 01:02 PM
You're the stats guy around here - I only know how to do suburban sums!

So, do you reckon you can have the answer by the end of the month?
Doesn't need any sums. If I give you 2 hypothetical data sets, one with a data mean of 3.2%, the other with a data mean of 4.3%, what is the directional mean without normalizing the data?
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Shadow
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Terry
9 Oct 2015, 01:12 PM
Doesn't need any sums. If I give you 2 hypothetical data sets, one with a data mean of 3.2%, the other with a data mean of 4.3%, what is the directional mean without normalizing the data?
I told you, I only know suburban sums. You're the stats guy who says he knows a very simple way of assigning an average without any data normalization.

You seem to be backtracking on your claim now... can you do the calculation or not?
Edited by Shadow, 9 Oct 2015, 01:31 PM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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