A friend asked for some advice around selling a property in Melbourne, and particular, how they go about setting a reserve price. House is in Bentleigh East in VIC. Among many things, I was interested in understanding what has happened to prices over the last 12 months. The agent is saying that prices in the area (Bentleigh East VIC) have fallen by around 10% in last 12 months. I hear much the same thing from other people (about prices in general in Melbourne), and it sort of aligns with some of the commentary I read on PC. Then I look at the median house price data, and it tells a slightly different picture - ie a rise of ~4% in the suburb over the last 12 months. I looked at 3 surrounding suburbs and got roughly the same result - price increases of 0-5%. What I am missing? Is this just a lag in the data? Should I be looking at other data sources on median house prices?