Following on from last night’s article on the relationship between home sales and home prices, a few readers asked me how the charts looked for the smaller capital cities, namely Canberra and Darwin.
I originally left these cities off the original article due to time constraints as well as the fact that annual sales data was not available from Australian Property Monitors (APM); although quarterly data dating back to 2002 is available from the Australian Bureau of Statistics (ABS).
For completeness, please find below charts of home sales versus prices for Canberra, Darwin and Hobart.
Like for the major capital cities, there appears to be a reasonable correlation between home sales and prices, with sales tending to lead prices.
Cheers Leith
unconventionaleconomist@hotmail.com
..but, but, the Sunday Canberra Times keeps telling me it’s all good?
Any chance of a calculation of the actual correlation values?
Budget by Bligh today, following the VIC model of high rates of stamp duty, and high grants for new dwellings!! http://www.brisbanetimes.com.au/business/property/property-market-tipped-to-worsen-on-stamp-duty-increase-20110614-1g1dq.html
Real estate agents of QLD will be horrorfied at this news, as turnover halves again.
Leith, any chance you could advise of the APM data source? Publicly available?
Aw, this was a really nice post. In idea I would like to put in writing like this additionally – taking time and actual effort to make a very good article… but what can I say… I procrastinate alot and by no means seem to get something