Price guide metric descriptions

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Designed to keep you fully informed on market activity across Australia, the Property Price Guide is compiled by CoreLogic (RP Data), Real Estate Investar, and Your Investment Property magazine.
The data on our site is updated in the second week of each month.
 
 
Median price ($’000)
is calculated by compiling all the property sale
prices in a suburb during the past 12 months
and then taking the middle figure. It is a good
measure to detect changes in the market by way
of price movement.
 
3-mth growth (%)
is the percentage change in the median price
over the last three months, and is a good
short-term indicator of whether property prices
in that suburb are currently rising or falling,
although this can be volatile in nature.
 
12-mth growth (%)
is the percentage change in the median
price over the last 12 months, and shows
how the market has moved over the medium
term. Anything over 10 would represent very
strong growth.
 
Average annual growth (%)
is the average percentage change in the median
price over the last 10 years, expressed as a
per-annum figure. This statistic irons out the
shorter-term peaks and troughs in the market
to give a good measure of long-term market
performance. Anything over 7.5 would indicate
exceptionally strong growth (more than a
doubling in price over the full 10 years).
 
3-yr growth (%)
is the total percentage change in median price
over the past three years. Anything over 25 would
indicate exceptionally strong growth.
 
5-yr growth (%)
is the total percentage change in median price
over the past five years. Anything over 40 would
indicate exceptionally strong growth.
 
Weekly median advertised rent ($)
is the median weekly asking rent for listed rental
properties over the last 12 months, expressed as a
simple dollar figure. It is the best way to compare
rental income in different suburbs.
 
Gross rental yield (%)
is the estimated gross rental return, calculated
by multiplying the weekly rent by 52 weeks then
dividing it by the median price. Beware that the
rental yield goes up when the median price falls,
so an increasing rental yield is not always good.
You will ideally have rising yield on the back of
rising prices. A gross yield of around 6% allows
for both strong cash flow and growth.
 
Vendor discount/premium above
asking price (%)
is the average difference between the initial asking
price and the final selling price. A negative figure
denotes a discount, in which case you may have
room to haggle the price down; a positive figure
shows a premium, in which case you might have
to expect to pay more than you thought.
 
Average hold period
is the average number of years that owners hold
their properties before selling. A number over
10 indicates a tightly held suburb in which stock
on the market is often low; a number below five
indicates a suburb with rapid turnover. A high
number also suggests an area is dominated by
homeowners and a lower number by investors.
Typically, growth in tightly held suburbs is
consistently strong over the long term and
suburbs with shorter hold periods are generally
more volatile.
 
Number sold
is the total number of houses/units sold in the
suburb over the last 12 months. The number will
be heavily influenced by the total number of
dwellings in the suburb, so bigger suburbs tend
to have higher sales, and smaller suburbs could
only have a handful. It also depends on the stock
available in the market. So if there are only a few
properties up for grabs in a suburb, naturally
there will be fewer sales as well. This means you
should not take this data in isolation but use it in
conjunction with the other statistics to get a better
picture of how active that suburb’s market is.
 
Days on market
is the average number of days a property stays on
the market in that suburb before it is sold. A lower
number indicates that properties are highly sought
after and quickly snapped up by buyers. A high
number could mean low interest from buyers either
due to unsuitable pricing or undesirable property
offerings. Buyers are often turned off by properties
that have been sitting in the market for longer than
the average, which is three months. Typically, vendors
become desperate when the property spends a long
time on the market, which means buyers are in an
ideal position to negotiate a hefty discount. in an ideal
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