In case you haven’t realised it already, the organisations that most loudly proclaim their “Independent. Always” credentials are, in fact, some of the worst peddlers of fake news. At best, there is a distinct lack of critical thinking when it comes to reporting what clearly vested interests are pitching. No-one is really looking for the dog that isn’t barking……
Worse, there are people out there heavily-invested in certain outcomes yet being interviewed and given publicity as if they were a credible information source; Stephen Koukalous, for example, long property much?
The epitome of this Lord Haw Haw mentality is the Doctor of Property himself, Andrew Wilson, a man with so little credibility, Fairfax fired him.
Two recent outputs from this mendacious fool have prompted the creation of the “Are we there yet, Mum?” index;
Firstly, this one where he claims prices have bottomed because the median price at auction didn’t fall significantly since the previous week. Just re-read that again slowly…… (by the way, I’m pretty sure he edited this from an earlier version that even claimed prices were on the rise – if anyone can confirm my suspicions, I’d be grateful).
And this one where he claims a high auction clearance rate despite the glaring problem that only 55% of results were reported;
Therefore, readers who are interested or mildly bemused by the current “completely unpredictable” housing bust occurring in Australia may enjoy this new monthly feature.
William of Ockham’s “Are we there yet, Mum?” index.
This is a collection of public data, which is intended to illustrate the bottom of the Sydney housing market, when it arrives.
The datasets used are as follows;
The last one was created by looking back on the Core Logic website for the final print of weekly auction data. I stopped at August last year but will continue collecting it while on a dull conference call. Of course, if anyone has access to an Excel version of the back series, please do let me know and I”ll drop that into the chart.
These charts will be updated monthly, probably just after the RBA credit change data is published.
Any debate or discussion on dataset chosen, interpretations or additions/modifications are welcome in the comments section.
(note: there are 4 to 5 weeks in December and January where auctions volumes are too low for Core Logic to bother reporting).