Ok ill try again.
Median price does not equal valuation. Just because the median rose by 25% doesnt mean that Keens specific property rose by exactly 25%.
However median shows the direction (as best we can) as we cannot possibly value every property sold year on year for an exact figure hence we use median price.
Lets be honest for a moment, if you bought a property in Surry Hills would you want the median to show a growth of 25%? If it was a fall of 25% would you be concerned? Ofcourse you would because the "likelyhood" is that your property fell.
Remember also that this is median we are talking about therefore its possible that Keens property rose by more than 25% just as it could have risen by less.
Median price is the best measure we have generally speaking. Regarding a specific property then a valuation and using comparable recent sales is obviously a better method.
I know exactly the unit Keen sold, given the median price gain I am certain that if I look at the building and see the units being sold that it will show a rise.
I stress dont get hung up on the specificity, a 25% increase in median is GOOD! you want to be in those suburbs. A 25% fall is bad regardless of how you look at it.
Median price does not equal valuation. Just because the median rose by 25% doesnt mean that Keens specific property rose by exactly 25%.
However median shows the direction (as best we can) as we cannot possibly value every property sold year on year for an exact figure hence we use median price.
Lets be honest for a moment, if you bought a property in Surry Hills would you want the median to show a growth of 25%? If it was a fall of 25% would you be concerned? Ofcourse you would because the "likelyhood" is that your property fell.
Remember also that this is median we are talking about therefore its possible that Keens property rose by more than 25% just as it could have risen by less.
Median price is the best measure we have generally speaking. Regarding a specific property then a valuation and using comparable recent sales is obviously a better method.
I know exactly the unit Keen sold, given the median price gain I am certain that if I look at the building and see the units being sold that it will show a rise.
I stress dont get hung up on the specificity, a 25% increase in median is GOOD! you want to be in those suburbs. A 25% fall is bad regardless of how you look at it.
lived in them. (OK nurses and apprentices) In the last 5-10 years there have been thousands come on stream with half a mil entry price. Every slum-lord with those crappy old units could only dream of getting "median" price, but it shows in the statistics. Currently there is heavy oversupply (flyin/flyout miners only need so many) and the median is plummeting again. 
