Problems with Median Property Prices


Vision Direct

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We have all seen the published median prices of property, and sometimes have wondered about what it really means.

Too often we see different median prices issued for the same area by
different organisations.

Sometimes we see figures that show a price change that just doesn’t look
right.

How about this to show an extreme case… Bullsbrook in Western Australia….

In April 2009 we would have seen this graph

Bullsbrook Median House Price March 2009


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This appears to show a massive BOOM in house prices…

In April 2010 we will see this graph, showing a massive Bust, in April 2009.

Bullsbrook Median House Price April 2010

The better graph, to show the whole picture though, is this one.

Bullsbrook Median House Prices

This just shows a hiccup in the figures.


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