Originally Posted by
minimoke
QV is one approach – but I’m not sure it is the most valid – and in this graph it isn’t because new data is being introduced. We have gone from Shrewdys “Median” house price to QV’s “Average” house price and now this new “Value of Housing Stock”. Remembering also that QV changed their methodology of valuing housing stock in 2004 and they are into value/price rations. I think they gather the data from council rating valuations and I know my place is undervalued by at least $300k on value /price so how valid this data is I don’t know. All interesting statistics at a macro level – but distract from the original post which is about buying your own median valued home.
Had I wanted to bring in new data I might want to suggest that back when Shrewdy first posted the average sale price from our data source was $392,724. In Feb 09 it is now $468,653. That’s a 19% INCREASE in value. But going on about how the market has improved isn’t necessarily helpful because we are using different data sets and any old data can be used to prove pretty much any old position.