Why are there different ways that percentage changes are quoted?

Oct 10, 2022, 16:04 PM
Title : Why are there different ways that percentage changes are quoted?

Percentage changes are presented in various ways in the media. REIWA presents percentage changes in the following ways:

Quarterly change is the comparison of the median of one quarter with the previous quarter.

Generally this is restricted to larger overall markets such as Perth and regional centres.

This is not to say it cannot be applied to suburbs assuming there are adequate sales volumes to provide a representative sample. Industry practice usually restricts reporting of median sales price to volumes of 30 or more sales.

Annual or Year on Year change can be expressed either as:

  • the annual change between the medians in the same quarter for two subsequent years or;
  • the annual change between medians for the year to date data compared with the previous year to date data. This is what is typically presented in the Property Report for suburbs.

Average Annual Growth Rates for five and 10 years are only calculated using annual medians and represent the average compound growth over the respective period.

It is therefore important to understand what data is being presented in the first instances, whether it is quarterly or annual and then the nature of the change being presented.

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