In this episode, we discuss why Median Prices are not the best gauge for the real cost of property. If you’ve ever tried to make sense of property prices and found yourself relying on the median price as a benchmark, this conversation is going to challenge your perspective. We'll be unpacking why the median price might not be telling the full story when it comes to housing affordability and what alternative measures might provide a clearer, more accurate picture of the true costs of buying a home in Australia. Whether you’re an investor, a home buyer, or just interested in the housing market, this episode will equip you with the insights you need to better understand the realities of housing costs and the metrics that matter most. True Cost of Housing: Beyond Median Prices In this episode of the Demographics Decoded podcast, we take listeners on a journey into the intricacies of housing affordability. By dissecting traditional metrics, labour market dynamics, and societal trends, we arrive at a comprehensive analysis of the factors driving housing costs and potential solutions for making homeownership more accessible. ●        [00:02:40] The limitations of using median house prices as a measure of housing costs ●        [00:04:15] How a U-shaped wealth distribution impacts the relevance of median house prices ●        [00:06:00] The need for a more granular approach to housing affordability metrics, focusing on specific suburbs and property types ●        [00:08:30] The classification of Australian jobs based on skill levels and its effect on the labor market and housing sector ●        [00:10:50] The transition from a manufacturing-based to a knowledge-based economy and its impact on middle-skilled jobs ●        [00:13:08] How wage pressures and high-end housing developments have driven up median house prices ●        [00:14:55] The growing concern of housing affordability versus house prices and the rising ratio of house prices to median incomes ●        [00:16:47] How lifestyle changes and the demand for larger homes with more amenities have influenced housing costs ●        [00:23:52] Potential future political and demographic shifts that could pave the way for policies aimed at reducing housing costs Throughout the episode, our discussion sheds light on potential solutions for addressing housing affordability, making this episode a must-listen for anyone interested in the future of the housing market. Links and Resources: About Simon Kuestenmacher Simon Kuestenmacher  is co-founder and Director – The Demographics Group Simon is a prolific media commentator on demographic and data matters and a columnist for The New Daily and The Australian newspapers.    He ranks as one of the world’s Top 10 influencers in data visualisation. If you can’t get enough of the kind of data that explains how the world works, make sure to follow Simon on Linked In or X (formerly Twitter) or any of his other social channels. Click here for a media enquiry or if you would like to book Simon Kuestenmacher for a speaking engagement. His presentations and quirky observations are enjoyed by audiences from the financial services, property, government, education, technology, retail, and professional services industries, among others. About Michael Yardney Michael Yardney- founder of Metropole Property Strategists has been voted one of Australia’s 50 most influential Thought Leaders. While he is best known as a property expert, Michael is also Australia’s leading expert in the psychology of success and wealth creation. Michael is a #1 best-selling author of 9 books and frequently challenges traditional finance advice with innovative ideas on property investment, personal finance, and wealth creation. Follow Michael on Linked In or Instagram Are you interested in property investment - let the team at Metropole build