Are prices really going up? I am looking at the auction results for Melbourne where they say prices are going gang busters.
Looking at the data there was 686 private sales, with total value of $313mil that means the average private sale was $456K
When you look at the Auctioned houses there was 132 auctioned off with total Value of $91mil which is an average of $694K
So are auctions just for higher end propertys?
So my question is, is a Median really a real indication of whats happening when its so different to the average ($150K difference at times)?
Also this only looks at what was sold,
so if we are in a time where first home buyers are not buying the bottom end, wouldnt that mean then that the sold prices will be higher with less lower end buyers thus rasing the figure? even if house prices were not going up?
So does that mean then the news is saying prices are going up when they are not?
Is there any information where you can see the average price of housing for sale? Not what was sold? As watching wahts for sale would be a more true indication of what prices are doing? not what area of the market is selling.
