What’s happening with prices across Australia? It depends on whose figures you believe.
A source of great confusion for real estate consumers is the reality that there are multiple research entities providing price data and they seldom agree on price levels or how much prices are rising or falling.
Are prices rising in Perth? SQM Research and PropTrack says they are, but CoreLogic suggests they are falling.
In terms of the median house price for Melbourne, CoreLogic says it has dropped 2.1% in the past year, SQM says it’s increased 1.6% and PropTrack reports no change. CoreLogic and PropTrack say Darwin prices have increased slightly, but SQM says they have fallen a little.
In the latest quarter, the ABS records price growth in Perth, Adelaide and several regional markets, but CoreLogic disagrees with their numbers. Most sources agree Canberra prices have jumped in the past year, but CoreLogic says 6%, the ABS 18% and SQM 28%.
How do consumers make sense of these discrepancies?
The only thing that’s certain is that media rhetoric about prices falling everywhere is untrue – growth markets can be found across Australia.
