OECD: Australian housing still overvalued

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By Leith van Onselen

The OECD released comparative data on housing valuations overnight. And despite Aussie John Symonds’ claim that “there’s never been a better time to buy property”, it showed Australian housing to be the sixth most over-valued in the OECD, with house prices relative to incomes 21% over-valued and prices relative to rents 37% over-valued compared to their long-run averages (see next chart).

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A table summarising the results is provided below:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.