Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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
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)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started