Sorry to get on my high horse today but the term "median price" is the biggest load of codswallop ever invented.
It does not mean anything, it is a meaningless term it is used by the government and the housing industry to cloud/smudge/hide the real facts.
Any academic, researcher, economic expert that uses the term immediately announces that they do not know what they are talking about and their research is just rubbish used to fill a page or try to justify their place in society.
If you are to use that term it can ONLY be related to a particular suburb and a particular price range within that suburb and even then it is an indication not a guarantee of proof, also there has to be a sufficient quantity of sales to justify the data.
There is a term used in valuation that is "like for like" meaning you can only compare prices when you are comparing the same quality property.
What the median price tries unsuccessfully to do is compare a one bedroom dump with a water front mansion, it just doesn't work.
