The median is the middle value and the mean is the arithmetic average; in skewed property markets the median resists distortion from a few ultra-prime sales, so it is the safer headline.
Related terms
- Outlier
A data point far from the rest, which may be an error or the most informative record.
- Point of interest (POI)
A mapped location such as a school, mall, or metro station used in location analysis.
- Spatial join
A GIS operation that links records by geographic location rather than a shared key, such as tagging each listing with its district or catchment; the backbone o…
- Standard deviation
A measure of how widely values spread around their mean; a high standard deviation in price per square metre flags a heterogeneous or thinly traded submarket.
- Web scraping
Automated extraction of data from websites, to be done responsibly and within terms.
- API
An application programming interface, a defined way for software systems to exchange data automatically; property portals and mapping services expose APIs that…
- Automated valuation model (AVM)
A statistical model that estimates property values from data at scale.
- Catchment modelling
Estimating the population and spending that a site can realistically draw, using distance, drive time, and competition; central to retail and mixed-use feasibi…