Globe and Mail Numbers About Toronto Real Estate Off as Much as 84%!
This was much worse than a bad hair day for the Globe and Mail. Upon closer inspection of the figures the newspaper published on April 25, 2008, I now realize that the Globe’s numbers in some areas are so far off as to be ridiculous.
In Rosedale the actual average price given by the Globe is off by a monstrous 84 percent! This is a lot worse than I ever imagined when I first looked at the Globe’s numbers a few days ago.
I have received dozens of emails asking me to provide average prices for other neighbourhoods.
In response, I decided to invest more time and publish the correct prices in a few more neighbourhoods.
|
Rosedale 2006 |
||
| Globe & Mail reported average price |
Actual TREB* average |
% Error reported by Globe & Mail |
|
$1,020,024 |
$1,770,763 |
74% |
|
Rosedale 2007 |
||
| Globe & Mail reported average price |
Actual TREB* average |
% Error reported by Globe & Mail |
|
$1,107,987 |
$2,036,733 |
84% |
|
Rosedale – First quarter 2008 |
||
| Globe & Mail reported average price |
Actual TREB* average |
% Error reported by Globe & Mail |
|
$970,377 |
$1,790,962 |
84% |
As I review these new figures, I continue to get comments and requests asking me to provide correct housing prices for other neighbourhoods in Toronto.
Since there is no software available to produce neighbourhood average prices from the Toronto Real Estate Board figures, I have to compile it myself. Even though it is a time consuming task, I will try to find some additional time to do this.
* Toronto Real Estate Board