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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73.2% We work hard, we deserve a break!
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16.9% Hmm, maybe?
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9.9% Yes!
A riddle to start the festive season 🌲🎁🌟
I'm a fruit. If you take away my first letter, I'm a crime. If you take away my first two letters, I'm an animal. If you take away my first and last letter, I'm a form of music. What am I?
Do you think you know the answer? Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm on the day!
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Poll: Should we be giving the green light to new mining projects? 💰🌲
The Environmental Protection Authority announced this week that a proposed mine in Central Otago (near Cromwell) is about to enter its fast-track assessment process. A final decision could come within six months, and if it’s approved, construction might start as early as mid-2026.
We want to know: Should mining projects like this move ahead?
Keen to dig deeper? Mike White has the scoop.
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53% Yes
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47% No
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