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.
Are you living within a Flood Plain?
Here in Pemberton Cres, Greerton 30m-31m / 100ft above sea level TCC states we are living within a Flood Plain. Family having lived here for close on 70 years we are yet to be so called flooded out. How is council zoning of a Flood Plain justified? Does any one know if any of the people standing for Council if elected are proposing any changes? webmail.orcon.net.nz...
Delivery help
Can anyone help move a light soft tub and dining table from Windermere drive to a tauriko container Wednesday morning cash job, the cage trailers for hire are not viable for this.
Why are ghosts such bad liars?
...You can see right through them.
No, we haven't lost the plot! July 1st is International Joke Day and because laughter is good for your body, we want to get involved.
So, go on, jokers! Share your best joke below...
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