LJ Hooker director Mark Spearing said RP Data’s figures were misrepresented.
LJ Hooker director Mark Spearing said RP Data’s figures were misrepresented. Kerri-Anne Mesner

Property sales on rise

DATA released by a property valuation company saying that Gladstone house sales have dropped are wrong, according to the director of Gladstone LJ Hooker, Mark Spearing.

On Wednesday, some media reported that there had been a drop in the number of house sales in Gladstone with the median price of sales increasing by 6 per cent.

RP Data said that figures show an 8.7 per cent drop in Gladstone in the first quarter of this year, compared with the same period last year.

When The Observer checked the figures, not only Gladstone but most of Queensland price sales increased across the state by 6 per cent.

RP Data’s own website states when looking at the increase in the housing items over the quarter, overall housing costs increased by 0.6 per cent (in line with the overall increase in CPI). The sub groups of the housing numbers saw results vary dramatically. Rents increased by 1.1 per cent, utility costs recorded no change over the quarter and other housing costs increased by 0.5 per cent.

“Whilst the quoted figures relate to a period some seven months old, we have seen a steady increase in activity throughout the year,” director of LJ Hooker Mark Spearing said.

“However as a direct comparable against RP Data’s comments our sales activity more than doubled in the first quarter of this year compared to the first quarter of 2009.”

Mr Spearing said as a major agency LJ Hooker was right at the forefront of pricing in the Gladstone region.

“Our reporting is up to the minute and we note also that the recently completed second quarter saw a continuing improvement with figures for the second quarter showing activity increased by 24 per cent over the second quarter of 2009,” Mr Spearing said.

“It clearly shows that this market is in forward and upward momentum.”

The Observer asked for comment and clarification from PR Data, but at time of print they had failed to respond.



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