439 days ago

Why do property an analysts use median house price?

Matt from Matt Wineera - Thats Real Estate with Matt Wineera

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.

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More messages from your neighbours
7 days ago

Poll: When should the tree go up? 🎄

The Team from Neighbourly.co.nz

From what we've heard, some Christmas trees are already being assembled and decorated.

What are your thoughts on the best time to get your Christmas tree up?

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When should the tree go up? 🎄
  • 4.7% Second half of November
    4.7% Complete
  • 43.6% 1st December
    43.6% Complete
  • 17.6% A week before Christmas
    17.6% Complete
  • 33% Whenever you wish
    33% Complete
  • 1.1% Other - I'll share below
    1.1% Complete
2614 votes
8 hours ago

Today’s Riddle – Can You Outsmart Your Neighbours?

Riddler from The Neighbourly Riddler

First you eat me, then you get eaten. What am I?

Do you think you know the answer to our daily riddle? Don't spoil it for your neighbours! Simply 'Like' this post and we'll post the answer in the comments below at 2pm.

Want to stop seeing riddles in your newsfeed?
Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.

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3 days ago

Poll: Should all neighbours have to contribute to improvements?

The Team from Neighbourly.co.nz

An Auckland court has ruled a woman doesn’t have to contribute towards the cost of fixing a driveway she shares with 10 neighbours.

When thinking about fences, driveways or tree felling, for example, do you think all neighbours should have to pay if the improvements directly benefit them?

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Should all neighbours have to contribute to improvements?
  • 82.8% Yes
    82.8% Complete
  • 14.4% No
    14.4% Complete
  • 2.8% Other - I'll share below
    2.8% Complete
1416 votes