Suburb Statistics

[jalen712]

Hi,
Just trying to pick out a suburb for an investment property. I'm wondering why the data is so different across different data sources as you can see below?

Eg: Norman park: (Houses)

Onthehouse :
- Median value = 694 000
- Median Rent = 600
- Suburb rental yields = 4.39%

API Mag :
- Median value = 712 000
- Median Rent = 518
- Suburb rental yields = 4.3%
- 10yr growth = 5.7%

Realestate.com.au :
- Median value = 792 000
- Median Rent = 500
- Suburb rental yields = 3.3%

Residex:
- Median value = 724 000
- Median Rent = 595
- Suburb rental yields = 4.3%
- 10yr growth = 5.27%

Thank you very much

 

[The Y-man]

Depends on how the info was collected, sample size, etc.

The Y-man

 

[jalen712]

Yeah you would think the data would be the same. The data shouldn't change. eg if they get suburb data for the last month or last year it should be the same. As you cant change how many houses have sold...

It makes it impossible to analyse suburbs properly as some suburbs can have massive differences.

They may look like the best investment on one website and then you check the data on another and it could look like the worst investment area.

Hope that makes sense.

Does anybody have any experience with this?

Much appreciated.

 

[thatbum]

Does anybody have any experience with this?

Much appreciated.

Well in my experience, those type of stats are unreliable, but even if they weren't - I wouldn't find them much use.

Who cares what the exact median price or rent is? Even historical growth rates are of dubious use.

 

[Richard Feynman]

There are two ways to approach this:

1) Average all the data from each (reliable) source and go with that
2) If you don't want to go to that level of detail, use the data from only one source and stick with it.

I'm pretty sure some of realestate.com.au's investor data is based on active listings and recent stuff that's been sold/rented on the site so keep that in mind. That's why it's so out compared to the other sources.

 

[The Y-man]

Yeah you would think the data would be the same. The data shouldn't change. eg if they get suburb data for the last month or last year it should be the same. As you cant change how many houses have sold...

Yes but for example, how do you define a "house" or something else like a unit?

Let's say a blocks been subdivided and the front house that was originally there (now on a small block) is sold. Is it a "house" or "unit"?

The Y-man