more prop upramping in the press

this below artical from the age is funny


First it claims house prices lept by $75K

Then it states "The median is the middle price of all house sales recorded in the quarter."

Then it states which we know is an out right lie from the mortgage data "While a small decline in first home buyers " it is a massive decline from first home buyers.

then it states most purchaseing was done between $500K and $900K

hence the jump of median.



but how glowing and nice feeling this must be to landlords to read, thinking their homes are up $75K lol

wonder how they will word the falls?

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Median house prices rise by record $75,000 MARIKA DOBBIN
January 23, 2010
MELBOURNE house prices leapt an unprecedented $75,000 at the end of last year to surpass already record highs.

The median house price hit $540,500 in the three months to December, to be 15 per cent more expensive than the previous record of $470,000 set in the September quarter, according to the Real Estate Institute of Victoria. The median is the middle price of all house sales recorded in the quarter.

While a small decline in first home buyers saw price growth moderate for lower-end real estate, price inflation was most dramatic in the middle market of between $500,000 and $900,000, a segment characterised by second-time home buyers and wealthy investors.

The eastern suburbs continued to be highly sought after, with Burwood claiming the city's biggest price jump of 23.1 per cent, with the median house price up from $658,000 to $810,000. It was followed by the outer-eastern suburbs of Ringwood, which recorded a 16.2 per cent increase to $521,750, and Mount Evelyn, with a 16.1 per cent rise to $391,250.

Institute chief executive Enzo Raimondo said it was the largest increase in Melbourne's median house price since REIV started keeping quarterly records in 1992.