Boom! APM/Domain report $1.11M record high for Sydney median house price after 5% quarterly growth
Boom! APM/Domain report $1.11M record high for Sydney median house price after 5% quarterly growth; More indices catching up with the RP Data Corelogic index
Tweet Topic Started: 17 Dec 2016, 06:18 PM (1,113 Views)
Spring house prices surge – Sydney and Melbourne still booming
Robust market conditions continue to drive house price growth in most capital cities with Melbourne and Sydney leading the pack with more boom-time results.
Latest Domain market intelligence reports that the national median house price increased by 3.7 percent over the three months ending November to a new record spring high of $774,799. The national unit price also increased over the spring quarter rising by 3.2 percent to $550,150.
The Melbourne and Sydney markets continue to produce strong results with the Sydney median increasing by 4.9 percent over spring to a new record high $1,106,415 – an increase of 7.4 percent over the past year.
Melbourne also recorded a sharp increase in house prices over spring with the median increasing by 5.0 percent to a new record $798,367. Melbourne house prices have now risen by 9.8 percent over the past year – the strongest annual growth of all the capitals.
December auction clearances rates continue to reflect strong underlying market conditions despite an unprecedented end of year rush to market by sellers.
"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
How does an index "catch up" with another index? If indexes are constructed differently, they are all accurate based on their own parameters. That's the way it is MC.
"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
Spring house prices surge – Sydney and Melbourne still booming
Robust market conditions continue to drive house price growth in most capital cities with Melbourne and Sydney leading the pack with more boom-time results.
Latest Domain market intelligence reports that the national median house price increased by 3.7 percent over the three months ending November to a new record spring high of $774,799. The national unit price also increased over the spring quarter rising by 3.2 percent to $550,150.
The Melbourne and Sydney markets continue to produce strong results with the Sydney median increasing by 4.9 percent over spring to a new record high $1,106,415 – an increase of 7.4 percent over the past year.
Melbourne also recorded a sharp increase in house prices over spring with the median increasing by 5.0 percent to a new record $798,367. Melbourne house prices have now risen by 9.8 percent over the past year – the strongest annual growth of all the capitals.
December auction clearances rates continue to reflect strong underlying market conditions despite an unprecedented end of year rush to market by sellers.
lol, yeah sure.. more like Corelogic was incorrectly showing a surge, but the market is slowly catching up to it's error.
Corelogic is just an index... like any other index it is not the real market and has errors...
Corelogic is just an index... like any other index it is not the real market and has errors...
Yes, but if you don't know "actual", how can you determine that an index is not representative? Furthermore, indexes can define themselves based on their parameters.
Yes, but if you don't know "actual", how can you determine that an index is not representative? Furthermore, indexes can define themselves based on their parameters.
Roddy would rather waffle than admit that Sydney house prices are now more than double what they were when the doomster blogs convinced Roddy about the 40% crash.
$1.11 million median with probably another 20-30% still to go in this up-cycle. It has been a tough decade for Roddy and the other bears.
"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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