Home > Uncategorized > The ‘BurbWatch Project Update – 11/5/2011

The ‘BurbWatch Project Update – 11/5/2011


Plenty of stuff to report this update…

UPDATED:

– All BurbWatch charts for all states and territories, as well as Australia.

NEW:

All charts are now in PNG format (better quality), instead of the former JPG format. Thankyou to several knowledgable people for making the suggestion to switch. The images/charts should now present a little more clearly and quickly on the page and when clicked to maximise to full-screen.

Indexed Sales and Rental Listings charts for realestate.com.au based data. The raw listings numbers are still presented in the former charts, but these new indexed listings charts (reference = 100) give a better idea of the relative movements of the sales and rental listings; they are also a “2-in-1” chart, from the point of view that they provide listings and cumulative changes on the one chart (might make the cumulative chart redundant…we’ll see…)

Charts for each state’s fraction of sales and rent listings as a fraction of the Australian total (realestate.com.au based data). Gives a clearer, more comparative idea of how each state is contributing to the Australian total for sales and rental listings (compared to just raw or indexed listings). Accordingly, these charts give an idea of how the relative (listing-based) stress is trending for each state – is their contribution the the national total decreasing, increasing, or flatlining? More info to help paint a clearer picture.

Vendor Price Distributions – very excited about this one!! I have been wanting to get a better idea of property price distributions, and it is very difficult indeed. Median and average reporting, on its own, does not really give a very good picture of the distribution of prices in the market. Now, as actual sold price distribution data is actually quite difficult to come by (though there is some public, free info out there), Vendor/Asking Price data is relatively easy to come by. Hence, I have started to collect and chart the prices being asked for on various real estate website for state, starting with realestate.com.au; and am presenting them as raw-data distributions, for your interest (bar charts of the Frequency (%) contributions for each selected price category, for each state). You will get a better idea of the peaks, troughs and spreads of prices within and between states. Over time, I will also be presenting time-series of these charts, so you can see how the distributions shift over time. The provided Australian chart (line chart) allows you to visually compare the distributions of Vendor Prices between states. I hope this is enlightening, and you can appreciate how median and average -type reporting is somewhat useful, but is best when viewed as a distribution, in visual context! (eg. How well does the reported median and/or average figure(s) actually represent the whole population of prices? (etc)) Presenting Vendor Price Distributions is not the same as presenting actual sold prices, but the presentation of the distributions, as well as presentations of the distributions of over time and across states, will give a better picture of what is actually occurring in all parts of the Australian property market.

NOTEWORTHY:

http://www.refindhouseprices.com  – this site has stalled for some reason. It no provides updates for any of the stats of the front/home page. Quite disappointing, as data from here was used extensively by BurbWatch. I have tried contacting the webmaster/owner(s) via a number of avenues to let them know the site was down, but to no avail – either resulting in failure to contact, or failure to respond from 3rd parties. If anyone knows how to contact the operators/webmasters/owners, then please do so, and even please let me know, as I am very interested in what this site has to offer. Such as shame!

Due to the http://www.refindhouseprices.com issue, described above, some of the charts have not updated (because there is not any reliable updated data!). Hence, the charts are still presented, but they are, at this time of writing, about a week out of date. Sorry, I hope it resolves…

I have restructured the BurbWatch WordPress.com site. I found the former layout was getting messy, cluttered, and laborious to navigate (a lot of scrolling!). So I have used the introduction of the Vendor Price Distributions as an excuse to setup a basic drop-down menu system at the top of the site. Hopefully you like it. Let me know; make some suggestions.

Some of the SQM and RPData charts have been removed until I put together updates. Shouldn’t be too long.

I hope you enjoy the update.

Feel free to comment and make suggestion, especially on the new changes. I’ll do my best to consider and implement them.

Regards and Thanks For Visiting,

Stewart

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