There’s a lot of property data out there — so which data can you rely on?

Before we go into the property market’s performance, I’d like to address the overload of data on the property market out there.

In this digital age, data has never been more accessible and property reporting as well as statistics can sometimes be conflicting — which can leave people feeling overwhelmed. 

So why do I quote REINZ? The reason I source my data via REINZ is because it is the most current.

The data is loaded into the REINZ database from licensed real estate agencies at the time the sale price is locked in (unconditional data) instead of when the house settles or changes hands — which can often be some weeks or months later. This is good for you — you get the most current data, and therefore your decisions can be that much more informed. 

To the market, then.

There are no earth shattering surprises this month but, given the time of year, the lead up to the general election as well as how the market has been tracking over the past few months, that was to be expected.

In summary: 

  • The national median time frame it takes for a home to sell currently sits at 37 days
  • The national median house price currently sits at $530,000
  • The national sale price has increased 8.2% compared to the same time last year
  • The number of sales, however, fell 20% when compared to the same time last year.
Shannon CorbettComment