Median Price Statistics

An interesting article yesterday explained how house price statistics can mislead.
Over the last year median sale prices have been distorted (downward) by the unusually large number of first home owners buying relatively cheaper properties. Now those buyers have largely left the market, more expensive houses will contribute more to the median value of sold houses, so statistics will indicate that house prices have gone up!
It's like that suburb out to the west of Sydney a few years ago that was quoted as having had about a 1000% "median house price rise" in a year, which was because some wooden shacks had been sold off the previous year and replaced with new two storey MacMansions from a new development.
So beware of false claims by property spruikers! Deal with reputable estate agents and make sure you are provided with valid comparisons to justify the suggested sale price of your property.