Median Prices of Established Houses
Nov 1st 2009, 3:19 pm
#1
Guest
Posts: n/a
Median Prices of Established Houses
Median Price of Established House Transfers ;
Sydney
Mar-2007 $482,000
Mar-2008 $499,000
Mar-2009 $447,000
And they say House prices are still rising...........
Note... these are "Established House" median prices, not the 'new builds' that everyone wants as a first home.
Although Darwin is a tad different:
Mar-2007 $389,500
Mar-2008 $420,000
Mar-2009 $455,000
Just to show that Australia is not the same all over...
Sydney
Mar-2007 $482,000
Mar-2008 $499,000
Mar-2009 $447,000
And they say House prices are still rising...........
Note... these are "Established House" median prices, not the 'new builds' that everyone wants as a first home.
Although Darwin is a tad different:
Mar-2007 $389,500
Mar-2008 $420,000
Mar-2009 $455,000
Just to show that Australia is not the same all over...
Nov 1st 2009, 3:49 pm
#2
Has left the building
Joined: Mar 2007
Posts: 4,079
Re: Median Prices of Established Houses
Median Price of Established House Transfers ;
Sydney
Mar-2007 $482,000
Mar-2008 $499,000
Mar-2009 $447,000
And they say House prices are still rising...........
Note... these are "Established House" median prices, not the 'new builds' that everyone wants as a first home.
Although Darwin is a tad different:
Mar-2007 $389,500
Mar-2008 $420,000
Mar-2009 $455,000
Just to show that Australia is not the same all over...
Sydney
Mar-2007 $482,000
Mar-2008 $499,000
Mar-2009 $447,000
And they say House prices are still rising...........
Note... these are "Established House" median prices, not the 'new builds' that everyone wants as a first home.
Although Darwin is a tad different:
Mar-2007 $389,500
Mar-2008 $420,000
Mar-2009 $455,000
Just to show that Australia is not the same all over...
Too really compare apples with apples you need to take the value of a home and divide it by sqm and get a standard value for comparative.
In our area $2500 is middle of the road per sqm. Some as far as $4000 while others as low as $1800 (but you know straight away something is amiss when an agent quotes this low).
Nov 1st 2009, 4:19 pm
#3
Guest
Posts: n/a
Re: Median Prices of Established Houses
the problem with the figures is they are so highly skewed by the mix of house/apartment sales in the area by which time ie week to week month to month.
Too really compare apples with apples you need to take the value of a home and divide it by sqm and get a standard value for comparative.
In our area $2500 is middle of the road per sqm. Some as far as $4000 while others as low as $1800 (but you know straight away something is amiss when an agent quotes this low).
Too really compare apples with apples you need to take the value of a home and divide it by sqm and get a standard value for comparative.
In our area $2500 is middle of the road per sqm. Some as far as $4000 while others as low as $1800 (but you know straight away something is amiss when an agent quotes this low).
The price index for established houses covers transactions in detached residential dwellings on their own block of land regardless of age
In general I agree with you on your calculation basis.
It is interesting to see that Sydney median price of ALL detached houses was $511,677, but the figure for established houses was lower at $447,000.
In theory that could say that the new-builds might be a median of $575,000 for Sydney, compared to the $447,000 for established.
Nov 1st 2009, 4:45 pm
#4
Has left the building
Joined: Mar 2007
Posts: 4,079
Re: Median Prices of Established Houses
It is interesting to see that Sydney median price of ALL detached houses was $511,677, but the figure for established houses was lower at $447,000.
In theory that could say that the new-builds might be a median of $575,000 for Sydney, compared to the $447,000 for established.
In theory that could say that the new-builds might be a median of $575,000 for Sydney, compared to the $447,000 for established.
We are talking 575/447 not 512/447?
But its probably not a reflection of value but one of excellent marketing to vunerable customers.
In todays market you dont even need to leave your house.
- Calculate land value based on recent land sales
- Estimate build cost (being roughly 1/3 total value 2/3 being land value)
- Google to view neighbours and street view
Nov 1st 2009, 5:16 pm
#5
Guest
Posts: n/a
Re: Median Prices of Established Houses
But, looking at the real numbers, in the 3 months Jan - Mar 2009 6,009 Sydney property buyers paid under $447,000 for an established detached house, whilst 6,009 paid over $447,000 for an established detached house.
I looked quickly for the numbers of new build sales, for that time frame, but couldn't find the data.
