house price data all subjective

  1. 21,805 Posts.
    lightbulb Created with Sketch. 247
    as in one of my other posts, house prices are as rubbery as a rubber band, can be made to be stretched in any direction.

    To compare prices and increases or decreases you must use the exact same product to get an exact idea.

    Eg: 1 Kilo csr sugar in 2010 was $2 now $2.20 so increase of 10%...that is a measurable result.

    However you cant say house ABC a 4 bedroom etc 650 sqm land sold $500k..the next house sale was a 4 bed (with pool, and 800 sqm land) sold $550 so actually prices have increased by 10%...it does not automatically mean house abc is worth the same as the second house sale.

    Are there free sites that can actually give data house abc sold in 2008 for $500 k and resold 2011 for $490K and give more info like house sold 2008 for $500k then owner added extra room, and pool, and renovated kitchen..then sold in 2011 for $520K..so even though it went up $20k it actually went down say at least $50 k as reno's etc cost $70k..that would give a true picture of the state of the housing market!!!

 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.