4Q 2013 stats out by suburb: Adelaide

[Erica]

http://www.reisa.com.au/publicinfo/median-house-prices

Hubby tells me not to look quarterly- he thinks it's like checking your share portfolio daily- too much volatility, which can only lead to stress- but I just can't help myself...

 

[vaughan]

Some of the figures are based on sales of 1 house!

 

[Erica]

I agree

Some of the statistics will be completely useless due to such a low number of sales, I tend to only look at suburbs with a minimum of 30 sales, which does rule out a alot of areas. Just by chance my IP's are in the biggest suburb in Adelaide, with 99 sales last quarter- I believe the median statistic for that suburb to be a true representation of market movement. However it does not acount for quality- for example, indeviduals may still be paying the same median amount of money they were a couple of years ago but buying a higher standard/ or lower standard of property. It is just one tool of the DD process, and above all getting an on ground feel by attending many open inspections and then following up their individual sales results is probabally the best process, although time consuming!

 

[D.T.]

A couple of the suburbs I'm watching went down, I think thats mostly because December listings dropped off.