Wednesday, 5 December 2012

SingTao Newspaper misleads - GF to demystify

SingTao Daily Newspaper published this piece today:

"Greater Vancouver Sales Down 30%, but Coquitlam, North Van, and Port Moody Bucks Trend to Show Price Increases"

HAHAHA, well done SingTao!

Let us dig deeper:
Basically, these areas all recorded price drops vs 1 month, 3 months, and 6 months ago.
Even though they're hanging on to Year-over-year positive HPI territory, after a couple more months they too will become negative.

SingTao Newspaper was deliberately/unintentionally misleading when it said those areas "Beat the trend".

Nov 2012 Single-Family House HPI:
MoM: -0.4%
6 Mo: -1.9%
YoY: +2.6% (+2.8%,+3.6%,+3.7%,+4.3%) (declining YoY % gain over past months)

North Van:
MoM: -1.5%
6 Mo: -5.4%
YoY: +0.3% (+2.2%,+5.2%,+5.2%)

Port Moody
MoM: -2.3%
6 Mo: -1.0%
YoY: +4.7% (+6.9%,+5.3%,+2.9%)

*The same conclusion holds true for Composite (SFH+Condo+Attached) HPI.

GF 来澄清一下:
基本上这些地区比半年前,比三个月前,及比上个月 皆全面下跌。
而比去年同月,虽还是维持在 同比"上升", 但看来再过几个月,便将沦陷至同比下跌的地步。
而星岛日报说这些地区 “逆市上升”, 是错误的理解, 不管是故意的还是不小心的。

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