Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Data providers criticised for conflicting house price values

Staff Reporter 1 minute read

Residential property data providers have come under criticism for wide ranging differences in house price values.

Victorian planning minister Justin Madden said there is “an astounding array of different figures on house prices that all conflicted with each other”, The Australian Financial Review reported today.

According to Mr Madden, the only reliable source of property prices in Victoria is the state’s valuer-general.

He also cast doubt over other methodologies used to produce house price values.

RP Data research analyst Tim Lawless said the range of values was confusing but that it came down to different methodologies rather than misleading ones.

“I’m the first to agree it’s very confusing,” Mr Lawless said.

“It’s not really due to any of the data providing wrong or misleading figures, but comes down to different methodologies, different geographic boundaries being used and different time boundaries,” he said.

Published: 28-02-08

Data providers criticised for conflicting house price values
default
TheAdviser logo
default

 

more from the adviser
handshake news Non-bank moves to fully acquire IA Group

Resimac has announced it is set to acquire the remaining 40 per ...

deposit saving Brokers report longer turnarounds at the big banks

The major banks suffered from longer turnaround times over Decemb...

bank of mum and dad COVID-19 fails to dim home buying goals: survey

Property purchasing goals have remained intact in Australia despi...

FROM THE WEB