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Read the following quotes on media that report the latest housing price index in June 2022. Following negative annual movement in May, the median price

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Read the following quotes on media that report the latest housing price index in June 2022. "Following negative annual movement in May, the median price in Auckland increased 0.5% compared to June last year from $1,150,000 to $1,156,000 in June 2022. Auckland also recorded a month-on-month increase of 2.8% - up from $1,125,000 in May." (Adopted from REINZ https://www.blog.reinz.co.nz/blog/june-2022-statistics = ) "Property prices see the largest drop on record ... in June, the average asking price for a property in New Zealand was $925,150. The national average asking price for property saw a record-breaking drop in June, falling 3 per cent", according to the latest Trade Me Property Price Index. (https://www.trademe.co.nz/c/property-industryews/property-prices-see-the- largest-drop-on-record 2 ) (i) Critically evaluate the potential causes of the conflicting news above. (2 marks) (ii) Based on what you learnt in the course, discuss other alternative measures to gauge the housing price movement that help mitigate the potential issues you raised in (i). (2.5 marks)

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