Sector Lead: "I wouldn't be looking at any other source first than this RP Data/ Rismark index (its well composed and worth reading how it is measured with is on the website), then ABS, but they lag."
This truly shows how little you know (yet still choose to talk down those who question your views). Here are two quotes from SQM detailing RP Data's collection methods. Enjoy!
NSW "Of the 12,736 sales records sent through during the month of May, the average lag time was 110 days, meaning most of the records sent throughout May actually represented sales that happened in March, February or even earlier. Just 46 records were reported through within 15 days of the exchange date. In contrast there were over 544 records that had over a 300 day lag."
Victoria "The average lag time was a staggering 221 days and that was after presuming that anything with over 2000 days was an error in the data sent. Many of those with extended lag dates of over 300 days were units. No doubt ones where the property has taken years to settle due to extended delays in construction. And note, there was just ONE record that were reported within 15 days of the property exchanging contracts. JUST ONE PROPERTY."
