Home > Uncategorized > Sales in Perspective – State by State

Sales in Perspective – State by State


To those of you that are familiar with The ‘BurbWatch Project, you will likely also be familiar with my “Relative Sales” concept.

It compares the number of sales recorded with the amount of stock on the market.

The truth is, I don’t much like how raw sales figures are compared year-to-year, and sometimes significantly back in time, as these absolute numbers have different significance as time rolls on.

For example, selling 6000 properties this year, should not necessarily be seen as great compared to selling 5800 properties a few years ago. For, what about population growth? What about changes in the distributions and demographics of those who might buy properties? How many properties were on the market then, compared to now? And, how can we use sales information to better understand the state of the property market, if we are interested in doing so?

That is: what is the relative significance of results now compared to results in the past? This, I figure, should give a metric  that has a more constant significance (not perfect, just better, in my opinion).

One way I try to make a basic adjustment for this is, as mentioned above, to compare the number of sales with the stock on the market – all from realestate.com.au, of course, as this is my main source of information (yes, yes, with all the inherent implications for data quality, accuracy, completeness, etc….I make do!)

Please find below the “Relative Sales” (sales compared to stock on the market) for each state and territory, and also for Australia as a whole. The dips and rises since this time last year (the extent of this data set) may make more sense with some better context.

Regards,

Stewart

http://www.processolutions.com.au

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