On Friday, the Australian Bureau of Statistics (ABS) released its 2016-17 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 hyper-growth recorded in the bubble epicentres of New South Wales (Sydney) and Victoria (Melbourne).
