Property statistics support research when their definitions, dates and samples are clear. They do not replace an appraisal or predict an individual property’s price.
Understand medians
A median is the middle observation in the provider’s sample. A change in the mix of sales can move it even when comparable homes have not changed similarly. Separate houses and units, and compare settled results with similar condition and location.
Read rental and auction data consistently
Distinguish advertised rents from completed leases. Clearance rates vary with the provider’s treatment of withdrawals, unreported auctions and sales before or after auction. Use consistent periods and final results rather than combining preliminary and revised data.
Treat indicators as context
Listings, approvals, completions and finance conditions each describe different things. An approval is not a completed dwelling, and a price upswing is not always preceded by cheaper loans. Use several sources and check the particular contract, costs and property condition.
