On Friday, the Australian Bureau of Statistics (ABS) released its 2015-16 Australian System of National Accounts (ASNA) data release, which provides a detailed presentation of annual national accounts data.
Locked away on Table 61 is my favourite section of the release: data on aggregate land values at the state and national levels. This year’s release confirmd that, at a national level, the land values underpinning the Australian housing bubble have inflated to record highs against GDP, with particularly strong growth recorded in the bubble epicentres of New South Wales (Sydney) and Victoria (Melbourne).
