But the median can be skewed by the release of new developments where they statistically form more than the normalised market, whether it be another 50 units in an area where 200 units are sold annually, there can be a substantial skewing of the median. Hence the need to have several medians not just a suburb, house or unit median - there are subgroups which will reveal a more poignant result.
yes this happened in Beaumaris last year, big release of expensive apartments no beach road or close to, increased the median dramatically and others on here were saying that Beaumaris units had received an increase in value when the existing stock may have moved 1-2% tops
also when you look a capital city median that the media love "Melbourne prices" basically 90% of all new stock released in the new areas are below the median figure, pulling it down. What you would have purchased for the median price in melb 30 years ago would have had far more growth than would the median price growth would reflect.
I hate median prices especially short term ones that get the headlines