Some Exploratory Analysis
Posted: Mon Dec 23, 2024 4:44 am
There are other factors which may affect the property prices that are not included within the given data, such as:
Distance to public transport (but we’ve added these!) (2)
Weather data on the day of each sale (3) (but we’ve added these!)(4)
Location and quality of nearest schools (we’ve not added these!)
And there are probably other influences as well that we haven’t thought of.
The resulting FastStats system cyprus mobile number example is a very simple design with a small number of variables, one main table of property data, and the weather data linked as a lookup table.
A significant number of Melbourne properties are sold by auction and a quick breakdown by day of week backs up that assertion of day of sale.
More interesting is to look for trends and seasonality patterns within the sale dates. The chart below shows the spring months (Sep-Nov) having a higher number of sales. The lowest months are January and December (not too unexpected as they’re around Christmas time). However, the low figure in April – less than half of the months either side of it - seems somewhat questionable at first glance. It may be low because of Easter holidays, it may be low because of errors within the source data.
The Apteco Datathon: 4. The property market in Melbourne
We have a limited amount of longitudinal data within our set so we can’t make too much of these charts. Furthermore as we didn’t collect the data we can’t easily verify whether the dataset contains a complete set of property price sales.
Distance to public transport (but we’ve added these!) (2)
Weather data on the day of each sale (3) (but we’ve added these!)(4)
Location and quality of nearest schools (we’ve not added these!)
And there are probably other influences as well that we haven’t thought of.
The resulting FastStats system cyprus mobile number example is a very simple design with a small number of variables, one main table of property data, and the weather data linked as a lookup table.
A significant number of Melbourne properties are sold by auction and a quick breakdown by day of week backs up that assertion of day of sale.
More interesting is to look for trends and seasonality patterns within the sale dates. The chart below shows the spring months (Sep-Nov) having a higher number of sales. The lowest months are January and December (not too unexpected as they’re around Christmas time). However, the low figure in April – less than half of the months either side of it - seems somewhat questionable at first glance. It may be low because of Easter holidays, it may be low because of errors within the source data.
The Apteco Datathon: 4. The property market in Melbourne
We have a limited amount of longitudinal data within our set so we can’t make too much of these charts. Furthermore as we didn’t collect the data we can’t easily verify whether the dataset contains a complete set of property price sales.