I've got myself a copy of three current property mags (API, YIP, SPI) to check out the data tables etc. Just wondering how reliable are the statistics they report since I've found some differences.
Example: postcode 4700 Rockhampton City vacancy rates
API: Jul '11 37 vacancies 1.3%
Jul '12 35 vacancies 1.2%
YIP: has numerous listings under this postcode and for June not July. Using Rockhampton City:
Jun '11 3 vacancies 0.96%
Jun '12 15 vacancies 3.34%
Or aggregating the suburbs listed together:
Jul '11 31 vacancies (>1.5% rate, sorry didn't calculate)
Jul '12 55 vacancies (>2%)
SPI: same as API.
So should I just ignore YIP and believe the other two since they seem to report the same figures?
Also looking at API, reading their explanation of how they calculate gross rental yield sounds right to me, but doing the calculation on the data gives me different results... what the?
Example: NSW Houses, Abbotsbury yield reported at 4.8%
Median given is $675000, median rent is $530.
So 530*52 = 27560
(27560/675000)*100 = 4.08%
Another one, NSW Houses Abbotsford yield reported at 3.1%
Median 971000, median rent 620
620*52 = 32240
(32240/971000)*100 = 3.3%
Same for just about all of them, some out quite a bit. Haven't checked this in the other mags yet.
What am i missing??
Example: postcode 4700 Rockhampton City vacancy rates
API: Jul '11 37 vacancies 1.3%
Jul '12 35 vacancies 1.2%
YIP: has numerous listings under this postcode and for June not July. Using Rockhampton City:
Jun '11 3 vacancies 0.96%
Jun '12 15 vacancies 3.34%
Or aggregating the suburbs listed together:
Jul '11 31 vacancies (>1.5% rate, sorry didn't calculate)
Jul '12 55 vacancies (>2%)
SPI: same as API.
So should I just ignore YIP and believe the other two since they seem to report the same figures?
Also looking at API, reading their explanation of how they calculate gross rental yield sounds right to me, but doing the calculation on the data gives me different results... what the?
Example: NSW Houses, Abbotsbury yield reported at 4.8%
Median given is $675000, median rent is $530.
So 530*52 = 27560
(27560/675000)*100 = 4.08%
Another one, NSW Houses Abbotsford yield reported at 3.1%
Median 971000, median rent 620
620*52 = 32240
(32240/971000)*100 = 3.3%
Same for just about all of them, some out quite a bit. Haven't checked this in the other mags yet.
What am i missing??