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The median household is not the average household and the median house price is not the average house price. They are very different indicators. And it is very simplistic to analyse two markets based solely on either as they don't take into account the types of properties being purchased and...

The whole point of my post was that the median house price does not tell you anything about the actual housing value, so why would it matter if they can afford the median property or not? The median property in New York may be a studio apartment and the median property in Melbourne may be a 3...

It doesn't. It means that the family in the $600k 200sqm apartment could instead live in in a 120sqm 3 bedroom apartment and they would only have to pay $360k. You're totally missing the point. I'm not saying large properties equal high prices, I'm saying comparing cities based on median...

The problem with these international property studies is that they never take into account the differences in size of properties. Melbourne's median price may be higher than London or New York's, but that is because most people in those cities are happy to live in studio apartments. It says...