Perhaps the worst property forecast report published each year is the NAB Residential Property Survey. NAB publishes its survey results every February, presenting forecasts for what it says property prices will do in the year ahead.

The latest report, published in the past week, has attracted massive media coverage across Australia, particularly because the report is forecasting a 9-10% decline in property prices next year.

In our day-to-day research at Hotspotting, we’ve seen all the articles written about this report.

And I have to say it’s a damning indictment on the standard of journalists in Australia. Every one of the dozens of journalists who wrote an article on this NAB report simply presented the information in the NAB press release.