Use transaction totals without mistaking them for returns

Transaction totals are not investment returns. The value of properties registered during a period does not establish the gain earned by an individual owner.

Identify the measure

Check categories, dates, currency and whether the source concerns sales or wider transactions. Avoid interpreting aggregate growth as the appreciation of a comparable asset.

Calculate the relevant outcome

For a proposed investment, distinguish income, expenditure, finance and exit assumptions. Use documented figures where available and label estimates. Keep a market activity measure separate from the property's own operating account.