What is My House Price

Every few days, we're bombarded with new data on the housing market, saying that the average price of a three-bedroom house in Sydney or Timbuktoo has risen by 2% or some amazing amount.

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The mainstream media seems obsessed with producing more and more information about house prices.

It is debateable whether this is useful or whether this maybe creating distortions in the housing market values.

The property industry is such a big concern that there can be many theories as to why this has grown to be the case.

One that does seem to carry some weight is the fact the real estate industry advertises so heavily in the main stream media, that it is the newspapers interests to keep the average consumer constantly thinking what is my house's price.

You only have to pick up your weekend paper to see how much content that is simply real estate agent advertising.

This massive advertising is known as the rivers of gold by the media companies, ( referring to how much revenue the property industry generates ).

Every weekend thousands if not millions of dollars are spent around Australian cities advertising properties for sale.

You can see this is in the newspapers and media companies interest's to keep the topic of house prices continually in the spotlight.

Property commentators and your house price

Think about it there are many property commentators who are blatantly pushing their own real estate wheelbarrow and who also want to maintain their own profile as a real estate guru.

So they are happy to keep the public perception that house prices are always rising.

This really has just added to the confusion!

The fact is Australian house prices are extraordinarily high by comparison to other parts of the world.

Will they continue to rise ? It would seem unlikely if history is any sort of a guide.

Bottom line your house price really is mute point unless you are moving

Sure it is nice to think you are experiencing capital growth on your property while you are just going about your daily life.

The point for most home owners on what is my house price is really probably irrelevant one unless you are wanting to move.

We all like to think our homes are going up in value but if you sell you will still have to live somewhere.

Also remember if you are buying again you will buy a home that is also risen in value probably just as much.

It appears the days of getting cheap real estate in Australia are well and truly over.

Some points to consider next time you hear how much the average house prices have changed.