the bubble crew, page-16

"the median is of what was sold, not what the going prices are. For example hypothetically prices could be falling, but if its just the top end of town being sold, then the Median report shows high prices"

And that's precisely why some people refuse to believe that there could be affordable properties out there. They just don't know how to look at brackets, performance by post code etc. They just think 'property' is one big index that applies to all. Which keeps them blind to the fact that some pockets work in different cycles and in fact there could be some good buying and good selling at any one point in time.