Hi Barg
I will claim 40 years as LA
You are still alluding to a multitude of minute complexities, it is not that difficult
People are forced into a price range due to today's society and the normal wage earning ability, ability to get loans etc., this produces a certain price range of housing that is common and this can have a medium price for that section only.
To give a simplistic explanation, there are of course a few different ranges to suit the various buying groups such as pensioners and low paid casual/part time workers who are forced due to circumstances into the basic 200 to 350k area then the blue collar set who would be say in the 600k t0 800k range and then the professional set say at 1mil to 3mil
range. These examples will of course be different for different cities and states
The top millionaire range have far different dynamics which have absolutely no connection to the other groups
As can be seen there are gaps between each group so to once again lump them all into a medium price is ludicrous and will produce a false figure which does not have any useful purpose.
If Australia introduced a effective sales daily reporting procedure at time of signing a contract for every property sale by any method for the whole of Australia, we would have the ability to have meaningful statistics until then every one just makes their best guess
