I was wondering why such stats are compiled and published. Is it going to influence house sales, I dont think so. Is it going to influence lenders, I dont think so. Is it going to influence government policy, I dont think so. Is it designed to sell some publication, could well be. Now I hear some of you say, but the facts still stand, do they? Allowing for the diversity of house types and house prices even in a limited area does anyone actually believe that the median price is a measure of what is borrowed and hence paid to buy a property. At the median price level most buyers would have sold a property and used and accumulated capital gain to reduce the required mortgage. If the average mortgage was compared to the average household income then a very different picture would result. If on the other hand its saying that a first home buyer (mortgage near purchase price) cannot afford the median house price, has that ever been so?
