Hi all
The Economist have just released a fantastic global house price tool here.
It allows you to graph global house prices, from 1975 for some countries incl Australia, in real terms, against income, etc.
It's interesting to see that Australian house prices, when graphed against income, are still well below those in some countries. As has often been noted, the price of buying a 4*2*2 on 500m2 within a short commute of say Melbourne's CBD is far below the equivalent cost in places such as London. New York, etc.
Cheers
Jonathon
The Economist have just released a fantastic global house price tool here.
It allows you to graph global house prices, from 1975 for some countries incl Australia, in real terms, against income, etc.
It's interesting to see that Australian house prices, when graphed against income, are still well below those in some countries. As has often been noted, the price of buying a 4*2*2 on 500m2 within a short commute of say Melbourne's CBD is far below the equivalent cost in places such as London. New York, etc.
Cheers
Jonathon