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.
Live Q&A: Garden maintenance with Crewcut
This Wednesday, we are having another Neighbourly Q&A session. This time with John Bracewell from Crewcut.
John Bracewell, former Black Caps coach turned Franchisee Development Manager and currently the face of Crewcut’s #Movember campaign, knows a thing or two about keeping the grass looking sharp—whether it’s on a cricket pitch or in your backyard!
As a seasoned Crewcut franchisee, John is excited to answer your lawn and gardening questions. After years of perfecting the greens on the field, he's ready to share tips on how to knock your garden out of the park. Let's just say he’s as passionate about lush lawns as he is about a good game of cricket!
John is happy to answer questions about lawn mowing, tree/hedge trimming, tidying your garden, ride on mowing, you name it! He'll be online on Wednesday, 27th of November to answer them all.
Share your question below now ⬇️
Poll: Should all neighbours have to contribute to improvements?
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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82.3% Yes
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15.1% No
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2.6% Other - I'll share below
Should You Stay Home During Open Homes or Private Viewings? 🏡🤔
Should You Stay Home During Open Homes or Private Viewings? 🏡🤔
When you list your home for sale, you might wonder: should you be there during inspections? While it’s your home, many agents suggest stepping out during these moments.
Here’s why:
1️⃣ Protecting Your Peace 🛡️
Selling a home is an emotional journey, and potential buyers often share candid opinions about your home. While their feedback can be valuable, it might feel personal when you’re nearby. Stepping out helps you avoid any unintended stress or discomfort.
2️⃣ Creating a Comfortable Atmosphere 🌟
Buyers want to imagine themselves living in your home, and that’s easier to do when they feel at ease. Your presence, even with the best intentions, might make them feel like guests rather than potential owners.
💡 Pro Tip: Take a break—go for coffee ☕ or enjoy a walk in the park 🌳 during inspections. It can make a big difference for everyone involved.
Have questions about selling your home or real estate in general?
Let’s connect—I’d love to help! 😊
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