How is The South?

[csobrien1966]

Just thought I would share some information with you if you live down South.

Median House Prices

Seaford Rise 2010.........+2.9% and 2011.............-2.8% with 91 sales for the year.

Seaford.......2010.........+8.4% and 2011.............-.1% with 64 sales for the year.

Moana.........2010........-5.3% and 2011..............+7.6% with 50 sales for the year.

All figures are from RP Data

[Tamara (Homes Down Under)]

Hi there,
Thanks for this. I am surprised about Moana...is this to do with not having the rail link whilst Seaford will soon have it?

Dare I ask how Port Noarlunga and Christies Beach have fared in these difficult times?

If you have any figures for these suburbs I would really appreciate you posting them on here?

Thanks very much.

Tamara

[AussieRob]

Check out this site... it has all suburbs and all price movements..

http://www.abelrealty.com.au/_excel/...mes2011_12.htm

I sometimes wouldn't take too much notice of the price movements though on a 1 off basis, only because they work on average house sales, so if an expensive house is sold, it can make a difference to the average. Look at areas like Hallet Cove, some houses sold will be $1M plus, this can massively affect the average, but if in a period no high level houses are sold then it would look like the suburb was less attractive and going backwards.

I feel sorry for estate agents, without any 2 houses being alike how do you value them ? I've seen houses in Morphett Vale with pool, 4 bedrooms, Spa, Fantastic fitted kitchen etc.. looking the biz, being offered for $400K, then round the corner an average 3 bed with small rooms, and basic fittings is sold for $350K. I guess there a logic to house prices but it seems difficult to follow.

[csobrien1966]

Check out this site... it has all suburbs and all price movements..

http://www.abelrealty.com.au/_excel/...mes2011_12.htm

I sometimes wouldn't take too much notice of the price movements though on a 1 off basis, only because they work on average house sales, so if an expensive house is sold, it can make a difference to the average. Look at areas like Hallet Cove, some houses sold will be $1M plus, this can massively affect the average, but if in a period no high level houses are sold then it would look like the suburb was less attractive and going backwards.

I feel sorry for estate agents, without any 2 houses being alike how do you value them ? I've seen houses in Morphett Vale with pool, 4 bedrooms, Spa, Fantastic fitted kitchen etc.. looking the biz, being offered for $400K, then round the corner an average 3 bed with small rooms, and basic fittings is sold for $350K. I guess there a logic to house prices but it seems difficult to follow.

TOTALLY AGREE ROB

Seaford Rise would have only needed say 2 x $450,000 homes actually settle in December and this figure would be a +

[coolerking]

TOTALLY AGREE ROB

Seaford Rise would have only needed say 2 x $450,000 homes actually settle in December and this figure would be a +

You are looking at the individual house price as it's median and not mean?

Cheers,
Cooler

[AussieRob]

You are looking at the individual house price as it's median and not mean?

Cheers,
Cooler

You are spot on.. I was incorrectly looking at the mean...

But the market figures can still be distorted, when i was selling up at Mawson Lakes, there was almost no movement on any house over $500K, but the lower value homes were still trickling along, this would still show a decreased market trend, but doesn't necessarily mean the value has gone down.

[coolerking]

You are spot on.. I was incorrectly looking at the mean...

But the market figures can still be distorted, when i was selling up at Mawson Lakes, there was almost no movement on any house over $500K, but the lower value homes were still trickling along, this would still show a decreased market trend, but doesn't necessarily mean the value has gone down.

Funny, the UK use mean and median is used. We live in Sellicks and I guess the house sales are less and median is probably the best average, to use. But, that could easily change if a new development was started.

cheers,
Cooler