Victorian Median House Prices: 1997-2008

I don't know what has happened, :confused: HOWEVER just trying to get the pdf thingo onto the forum into the hands of someone with some techie nohow, to get it up and available...standby........

Tried uploading to the somersoft site via gallery and into post via attachments...however there is a limit of 244kbs and I have 2.44mb, through the gallery isn't going to happen anytime soon of course.

Still thinking..

TRY THIS:

http://www.news.com.au/heraldsun/files/median house prices by suburb.pdf

See how we go.
 
Last edited:
Quoting myself:

I don't know what has happened, HOWEVER just trying to get the pdf thingo onto the forum into the hands of someone with some techie nohow, to get it up and available...standby........
Click to expand...

Oh no you wont Pam. This is copyright material, the link is okay, but on enquiry to Victorian Valuer-General's Office the info is not permitted to be displayed upon a public forum.

Good try though. :)

Here, also, is a link to the Valuer-General's Office if anyone would like to purchase the information:

http://www.land.vic.gov.au/Land/lcn...01DAC6F-4FF5582EDD1DD6B9CA256E5F0014C0EE?open

In particular:

"Where can I purchase the publication “A Guide to Property Values”?

You can order your copy on-line or email [email protected] or phone (03) 8636 2456.

Can I access information on the Internet about the Annual Property Sales Statistics Publication?
The Guide to Property Values is the most comprehensive and authoritative reference for all types of property prices including residential, commercial, industrial and rural. This annual publication shows property statistics across Victoria, which is produced using data obtained from Valuer-General Victoria, is available in hardcopy, CD or PDF format.

The guide contains many statistics tables and graphs, including 1985-2007 sales volumes and median and mean prices by local government areas/municipalities; 1996-2007 for suburb/township, 1985-2006 for number and total value sales for all residential, industrial and commercial transactions in rural and metropolitan areas."
 
Hi

It would be great if the Sydney Morning Herald were to do a similar exercise for Sydney.

Alternatively does anyone know where we can obtain a similar timeseries for Sydney.

Thanks

Tony
 
And/or:

http://www.lands.nsw.gov.au/valuation/property_sales_information

Excerpt from this page:

"Property sales information


Property sales information from Lands is derived from Notices of Sale lodged with Lands.

General valuation sales report
This report will assist you in understanding your land value. The report lists the property sales for a locality that were considered when determining land values for rating and taxing purposes.

The general valuation sales report available on Land and Property Information online at https://lpi-online.lpi.nsw.gov.au/valuations/gvsr.php includes the land size, contract date, purchase price and adjusted land value for the properties analysed by the valuer in undertaking the valuation process. The report is not a complete list of sales for a locality. For further assistance please call T: 1800 110 038 or for international callers +61 2 6332 8188.

The general valuation sales report is not available for individual strata units. The Valuer General provides the land values for the site of a strata scheme and the report can be accessed using the property number for the site."

Plus it goes on to list a helpful lot of contacts of authorised property sales information resellers. (See link page-scroll down).

There would be a minimal cost involved, (just as Victorian Valuer-General office has, but from what I remember it was $20 or $30 ish)..
 
*Bump*

Victorian Valuer-General median house prices for 1997-2008, including the change for decade, individual year by year house prices and growth per annum..
 
Is it just me, or does anyone else consider median a useless stat?

How does it help you decide what price of property you are considering? It doesn't make me decide anything.

All it takes is for a spike of properties at either end of the price scale and the median swings that way.

The result makes it look as though the market is tanking if the FHOB's are out in force, or booming if the higher end is moving.

For example; we have one higher-end joint, and the rest are lower-end, and all of them in the last 12 months (according to Bank vals) have gone up - including the vacant block, and they are spread around the Country a bit.

So, how do you work a median trend out of that? It's inaccurate.

I would much rather know about the trend in a particluar type of property such as say, a 2 x 1 unit, or a 3 x 2 house etc across the State.

Even this is too broad, as there are places where units are more in demand and others where 3 x 2's are in demand and so on.
 
BayView:
Is it just me, or does anyone else consider median a useless stat?
Click to expand...

I think you raise valid points about statistics, (perhaps more so in a general context), and the need to apply the old adage: "subject to interpretation".

Long term statistics, I am inclined to give a little more creedence too, and don't forget this pdf document includes (over the decade), a growth per annum..

BV, you are not the only one to question median house price reliability and accuracy btw, and for good reason, we may get new, novice investors, less educated in assessing and weighing up info, so am including here a couple of pro's and con's article links regarding the median data and interpretation, to go with your considerations in your post:

1. From an ANZ information site:

Making sense of property prices

Knowing what a property is really worth is the most important step in negotiating a sale. We explain the terminology behind home prices so you can get started sooner.

from:

http://www.anz.com/Aus/Promo/HomeEssentials008/Property1.asp

and also:

The pros and cons of relying on median house prices

Most buyers will be familiar with the term median house price as it is commonly used in newspapers and by analysts when referring to property values in particular areas and/or over time.

Expert analysts favour median values because they are less affected by a few unusually high or low sales. This makes the median house price a more accurate indicator of true market activity.

But home buyers should treat median values with caution. Whilst the median house price can be a helpful guide when it comes to purchasing a home at auction or by private treaty, it may not tell the full story. Here are five reasons:

More information at the site, well worth a read
-------------------------------------------------------------

*NB The pdf data from the Victorian Valuer-General does note and bring to attention if sales have been 10 sales or under for the town/city.

2. Residex, also has a bit of an article, here:

http://www.residex.com.au/index.php?content=article18

We explain medians, and how they're not always a good way of understanding a suburb's true value (see article). It's quite interesting also.
---------------------------------------------------

Actually good time to wack up some other links for folk starting out, and may not be aware of yet.

RPData site: http://reports.rpdata.com.au/property_statistics_australia.html

PropertyValue site: http://www.propertyvalue.com.au/property_statistics.php

Property Web site, has commercial and residential:

http://www.propertyweb.com.au/

Residex: http://www.residex.com.au/

Good old DSE: http://www.dse.vic.gov.au/DSE/nrenp...5722F0001C596C47E1532FEE06C46CA2575160014B916

REIV is only the Vic link, google for your State:

http://www.reiv.com.au/home/default.asp

Australian Property Investor: http://www.apimagazine.com.au/

Only put up a few, I am sure the forum has some other dedicated link threads, but if someone happens to land in this thread they will get a bit of this and that, and a smidgin of pro's and con's of this and that.

pdf link to 10 year median prices and growth per annum again:

http://www.news.com.au/heraldsun/files/median house prices by suburb.pdf

Do your due diligence for your investing and never hesitate to question why's and wherefore's.
 
Thanks for bumping this, OO. I didn't see it the first time - fascinating stuff. What a wonderful decade for PI it was.
I think one useful thing about the median indicator is that you can see whether your particular property out-performed the median for the suburb or not. Sure, it's not based on the same exact house but in an established suburb the median type of house doesn't change that much.
 
You are welcome, I actually have older statistics too, Vic Valuer-General stats from 1994-2005, saved from a paper printed article, "Shifting Values" by Andrea Moss.

It is an article with comments/observations by people (eg Bernard Salt, Monique Wakelin, prop. analyst Rob Burgess), with all Victoria's data for the decade, plus Melb. Top Performing Suburbs for the decade 94-05 too.

You are more than welcome to a copy, I'm not able to wack it up on public internet, copyright breach. If you want a snail mail copy just PM me your address.

No harm having the longterm stats from the Victorian Valuer-General in the library of property info.:)
 
The valuer general's valuations went from being too low before 2000,to too high after, when it became anice big cash cow.
Whilst interesting to see, median prices are useless without local knowledge, valuer general prices are probably worse.
 
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