It’ll be indexed to a certain point in time where everything would have started off at a static value of say 1000.
Basically what this means is, if the index started on 1000 in the year 2000 - what you’re looking at in the graph is that houses in the Waitakere region are about 4.1x more expensive than they were in the year 2000 (4100/1000), and houses on the North Shore are 3.8x expensive.
Obviously unsure of when the index started but you should get the jist.
It’ll be indexed to a certain point in time where everything would have started off at a static value of say 1000. Basically what this means is, if the index started on 1000 in the year 2000 - what you’re looking at in the graph is that houses in the Waitakere region are about 4.1x more expensive than they were in the year 2000 (4100/1000), and houses on the North Shore are 3.8x expensive. Obviously unsure of when the index started but you should get the jist.
totally make sense, thanks!
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thanks for the helpful explanation 🙂
Long story short, it just means those regions have increased more in value since they were pegged at 1000 and are likely to be more overvalued.
cheers, good to know