tdgeek:
Question
Auckland saw average property values rise by another 2.4 percent in April - a yearly increase of 15.6 percent and an average value of nearly $1.25 million
How is this calculated? The average selling price in any given period of all homes sold? What if sales volume is predominantly higher value homes, or lower value homes?
I thought they use the median house price, and not 'average'. It interesting that stats can be cherry picked to suit a narrative by different media organisations.
I have noticed in the last few weeks more houses not selling by deadline sales, and even some where the BEO price has been dropped. So there does seem to be something going on. Maybe it is partly heading into winter, which means less genuine buyers looking to move.