Smart Buyers Check Out the Data…

First Home Buyers are Getting OlderSuburban data offered on the property market is in abundance, but what does it all mean?

Here is our guide to some of the data and terms used:

  1. Median Price – The median price is the middle of a series of numbers where one half of the group is above and the other half in the group is below. For example, if 21 properties were sold in a month the median price would be the 11th price offered from highest to lowest. This is not to be confused with the average price.
  2. Median Quarterly Growth – The percentage change in median price compared to the median 3 months ago.
  3. Median 12 Month Growth – The percentage change in the median price compared to the median price 12 months ago,
  4. Median 5 Year Growth – The median price over the past 5 years of data.
  5. 10 Year Average Annual Growth – The average change in the median growth over a 10 year period.
  6. Time On The Market – The median number of days it takes to sell a property in a particular market by way of private treaty.

Are you interested in all the latest statistics for your area? Just let us know and we will send you a full suburb report. Call, email us or simply sms your suburb and suburb report with your name and email address to 0418 747997 and we will send it to you.

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