Earlier this month, the Australian Bureau of Statistics (ABS) released its 2014-15 Australian System of National Accounts (ASNA) data release, which provided a detailed presentation of annual national accounts data.
Locked away on Table 61 was my favourite section of the release: data on aggregate land values at the state and national levels. This years release confirmed that, at a national level, the land values underpinning the Australian house prices surged to an all-time high when measured against GDP, with all jurisdictions except the Northern Territory recording growth in nominal terms, but with New South Wales and Victoria leading the way.
