They published the house price data to the September quarter for Queensland. However, unlike for all other regions, the Brisbane “change over year” compares Median 12 months June 08 with June 07 - not Median 12 months September 08 with September 07. This leaves the impression that house prices have risen more over the year than they actually have - in fact, the September QTR median price for many suburbs is only very slightly above the Median 12 months June 07 figure, and for a few suburbs it is below.

For example: Belmont - median Sep QTR 08 $439,000 - Median 12 months Jun 07 $507,000, Change over 1 yr 8.9% (note the September QTR 08 figure is actually 14% below the Median 12 months Jun 07 figure)

Either the headings for the “Brisbane” columns are incorrect, or the columns are correct in which case the table consists of two columns of September data and 3 of June data.

I suspect it is the latter because the data do not make sense otherwise. (Since the September QTR 07 was still in the midst of the second wave of Brisbane’s bubble, and according to this release prices declined 4.3% in September QTR 08, the annual figures could be expected to be significantly lower than the annual June figures - probably negative for some suburbs.)

Obviously, the fact that this is the first set of figures that really show that the Brisbane market is falling rapidly suggests that the REIQ would be extremely sensitive about releasing these data. So it’s hard to understand how this error was not detected - either by the REIQ or The Courier Mail (and Brisbane Times also quotes the erroneous data) - prior to release and publication.

More reason to conduct a review into the functioning of the realestate industry!

Perhaps you should read this old crikey story from two yaars ago.

http://www.crikey.com.au/Media-Arts-and-Sports/20060911-Has-real-estates-vicelike-grip-on-Fairfax-cost-a-commentator-his-job-.html

The powers at be at The Age are aware of the dogey results..and yet do nothing..there is more to this story than meets the eye. Please contact me if you wish to discuss further.

Desperate for full time work, I took a job (at substantially below my usual salary range) with REINSW as Public Affairs Manager, in mid - 2005 & left 6 months later in disgust at the Institute’s lack of integrity right across its operations.

Probably the best example of the Institute’s lack of management substance, was when soon after my appointment, I shocked an Institute senior management meeting with the ’ news ’ that NSW Ministers maintained personal advisors et al, who were the starting point for informally testing the likelihood of preferred policy change.

In 2 months I was able to progess REINSW policy goals further than the CEO & his team had done by badgering departmental staff in the previous 3 years….as would any lobbyist worth their salt.

Even a severly depleted personal cash flow couldn’t convince me to continue working there….one has to be able to sleep at night.