median price indications

I am glad to see on this thread that the value of the median price is being questioned and also if a property returning 3% can be classified as an investment

There is a rule in valuations that you compare like with like so the only time that a median price quote is close to accurate is when you use it for one street or occasionally for a small suburb that has all the same type of housing, anything other than that it becomes just an indication of money availability and general conditions and not a home price change indicator.

It is irrelevant when you use it to show a price range over a state.

Various groups use their own variations to arrive at a price indication but they are all flawed and do not give accurate results

It is possible to arrive at your own price change figures and that is to have access to previous sales results, first look at the area where you are going to buy, the type and price range you want to spend and collate your own figures.
Due to lack of sales in such a restricted area it tends to give long range activity rather than short term but it will be accurate.

On the subject of calling a property an investment when you only get 3% or 4% gross return is crazy it is just 100% speculation

Ifulikepinacoladas wrote

Going forward(no, my name's not Julia!), either rents must drastically rise or prices must significantly drop.

Jason, rental yields are taken into account because they are part of what distinguishes an investment from speculation.

Bubbles can take years to mature and the longer they take, usually the more spectacular a show it is when they pop.

It is this type of investor who will suffer badly if prices continue to fall.
Share traders know that to survive they must sell when a stock goes bad before their losses take their capital and it would appear that a lot of the bulls on this thread cannot afford to have prices drop because they will loose their capital

There are of course some investors who are properly set up and can withstand a price drop without worry and IF you can be this type of person there are still some good buys out there.