The Saturday Paper published an interesting article on how news outlets like Fairfax (owners of Domain) paint a picture of an ever booming and expanding property market, often based on the questionable use of data:
Looking at 60 randomly selected properties, with specified sale price, only five indicate historical losses. Two were adjoining lots on a busy road in Bankstown that a quick succession of owners seem to have tried to assemble for joint sale to an apartment block developer. realestate.com.au also failed to report a loss on one of those two properties, but not the other. The other three properties were all in Bexley, and subject to rapid-fire turnover by speculators.
Of the other 55 properties in the sample, drawn from across greater Sydney and including both houses and apartments, Domain shows only nominal profits. However, for four of the properties, realestate.com.au reports a loss-making sale that isn’t listed on Domain.
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