In this episode, we discuss how the NZ median house price can increase, even if house prices across the country decrease. This seeming anomaly is based on how the median house price is calculated. This measure of average does not track differences in the distribution of houses sold across the country.
If a higher proportion of Auckland houses are sold within a given month the median house price will increase, even if fundamental house prices do not increase over the same period.
This makes the median house price a poor measure of how the property market is actually performing month to month.
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The Property Academy Podcast