Perth’s Property Market was identified as the standout in terms of home value growth during the month of March. Perth house values saw a lift of 1.4% in March and median dwelling values fell 0.7% during the first three months. Month of March was the strongest in Perth, Darwin and Brisbane because of the resource-rich states.
According to RP Data Senior Research Analyst Cameron Kusher, “Confusion was due to a change to methodology used in hedonic index, converting from monthly to more accurate daily measurement, which affected the last two months indices.” The hedonic pricing method is used to estimate economic values for environmental services that directly affect market price. The basic premise in this method is that the price that related to its characteristics or the services it provides. Anyhow, based on the data last December quarter data from REIWA, Perth’s median house price is $465,000 while compared on the Australian Property Monitor’s December quarter, Perth’s median house price is $ 521,973.These data remained confusing because of the different figures given by the two known sectors. Which is which of the two sectors published accurate figures?