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Just to highlight how flawed the data can be - I was reading the WA Property report in Sunday's paper. Ardross was listed as the best performing suburb in the south of Perth with a price increase of 8.7% over the previous 12 months.
8.7% increase was based on 29 sales. What the report did not mention was 29 sales represents approximately 2% of all properties in Ardross.
Out of interest Derby was listed as the highest growth area in WA over the last 12 months with growth of 90.3%. Yes that is right 90.3%.
This figure was based on 16 sales which represents 1.7% of the total Derby market.
So message is use median prices with care.
Cheers MTR
Apparently a fair bit of building also happening in Derby at the moment