Did you catch up with the 2010 Property & Suburb Guide from last Friday’s Gold Coast Bulletin?

Part of the 66 page report was a suburb by suburb report showing demographics, information on the rental market and information on the change in median house price for houses, units and land.

Some of the suburbs featured are Ashmore (6.5% growth in median house price in 12 months to June 2010), Coombabah houses (up 7.4%) and units (up 10.5%) and Mermaid Beach (houses up 10.8%).

Median house prices are the most often quote indicator with house prices but what exactly does it mean?

The median value with any figures is the middle value in that range of figures so the median value in the set of figures 5, 7, 12, 15 and 16 is 12 – it’s simply the middle figure.

When people are using this information in connection with property, they are simply talking about the middle price of all the houses sold in the area and timeframe being monitored.

The problem is that if you had just the top properties in a suburb selling in any given period, the median value of property in that suburb would skyrocket because of the properties that had sold. By the same token, if just properties at the other end of the range sold, the median house price would be very low and show as a drop simply because of the properties that sold during this period so you do need to be a little careful if the quantity of properties sold is not large.

If you would like to know some information, about any suburb on the Gold Coast, then Contact Us and we will have provide the information for that suburb(s).

• No Related Post

Comments are closed.