The courier mail posted an article yesterday titled “$𝟭𝟲𝟰𝗸 𝘄𝗶𝗽𝗲𝗱 𝗼𝗳𝗳 𝗵𝗼𝘂𝘀𝗲 𝗽𝗿𝗶𝗰𝗲𝘀, 𝗯𝘂𝘆𝗲𝗿𝘀 𝗱𝗶𝘀𝗮𝗽𝗽𝗲𝗮𝗿: 𝗣𝗿𝗼𝗼𝗳 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗯𝗼𝗼𝗺 𝗶𝘀 𝗱𝗲𝗮𝗱”

 

Now, the media always puts a spin on things to get as many clicks as possible.

 

So, looking at the numbers where the suburbs dropped the most value – it’s based on the median sales prices over 3 months. I do believe the market has come back a little in some cases, but the median is based on actual sales, so if there’s a heap of expensive sales, or a heap of cheaper sales, this can skew the numbers greatly.

 

Aspley does feature in this list at around 13% price drop, I don’t think any buyers would say it’s been a dramatic drop at all, yes there’s been a slow down in open home numbers and the craziness has come out of the market a little, we’re seeing a correction in the market.

 

To see the biggest drop in Chelmer at 41.2% drop, you’ve got to understand what median means. For the first quarter, in our Chelmer data, there were 13 sales, with the median (middle sale) of the 13 being 2.2mil (30 Sutton St)

 

In the second quarter there were 17 sales, with the median (middle sale) was 1.8mil (50 Chelmer St). Now we’re probably missing a couple of prices in this time, so we’re a little higher than the 1.7mil mentioned in the article.

 

Here’s where we can twist the results to our favour:

The 𝙖𝙫𝙚𝙧𝙖𝙜𝙚 sale price in Q1 was 2.2mil and the average sale price in Q2 was 2.5mil.

So if you wanted to, you could give it a spin.

 

𝐓𝐡𝐞 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐛𝐮𝐛𝐛𝐥𝐞 𝐡𝐚𝐬𝐧’𝐭 𝐛𝐮𝐫𝐬𝐭: 𝐂𝐡𝐞𝐥𝐦𝐞𝐫 𝐛𝐮𝐜𝐤𝐬 𝐭𝐡𝐞 𝐭𝐫𝐞𝐧𝐝 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴 𝐭𝐡𝐞𝐢𝐫 𝐚𝐯𝐞𝐫𝐚𝐠𝐞 𝐬𝐚𝐥𝐞 𝐩𝐫𝐢𝐜𝐞 𝐛𝐲 $𝟑𝟎𝟎,𝟎𝟎𝟎.

 

The media is here to sell reads, to sell clicks, to sell advertising.

 

Understand the facts, and you’ll be able to see past the media spin.