Why do property an analysts use median house price?
Median house price explained
There are technical reasons why the median provides a more accurate picture of what is happening to the prices of houses rather than the average.
As an example, assume there are 11 houses sold in a month with a price range of $200,000 to $300,000 and an average price of $250,000.
Now replace one of those houses with a house that sold for $1 million. The average is now $318,182, even though 10 of the 11 houses for the month sold for less than this value.
The median would be the price of the middle house sold in the range (in this case the sixth house), which more accurately reflects what the majority of the houses sold for.
REINZ uses medians to provide a more accurate measure of the mid-point of house prices that reflects what most people are going to be buying and selling houses for.
Poll: Are our Kiwi summer holidays helping us recharge, or holding the economy back? ☀️🥝
There’s growing debate about whether New Zealand’s extended Christmas break (and the slowdown that comes with it) affects productivity.
Tracy Watkins has weighed in ... now it’s your turn. What’s your take? 🤔
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72% We work hard, we deserve a break!
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16.3% Hmm, maybe?
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11.7% Yes!
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Don’t Let Your Mattress Turn Into a Moving Monster!
Hey neighbours,
Moving house? Don’t wrestle with your mattress like it’s a wild animal! Big, awkward, and easy to damage, it needs a little strategy - and maybe a friend or two.
Top tips to move like a pro:
1. Measure & clear your path - no doorway dramas.
2. Grab a buddy - teamwork makes it a breeze.
3. Lift smart - bend your knees, not your back!
4. Wrap it up - blankets, plastic, or cardboard protect it along the way.
Want all the expert hacks? Check out: beds4u.co.nz...
P.S. If it’s time for a new mattress, our Boxing Day sale is the perfect excuse to upgrade your sleep while you move!
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Happy moving, neighbours! Here’s to a smooth move and many nights of comfy sleep in your new home.
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