Late last month, the Australian Bureau of Statistics (ABS) released its 2016-17 Australian System of National Accounts (ASNA) 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 year’s 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 mining strongholds of Western Australia and the Northern Territory recording growth in nominal terms, but with Victoria and New South Wales leading the way.
