CoreLogic’s Cameron Kusher has penned another illuminating article on the extreme housing valuation gap in Sydney compared to the other capital cities:
Although dwelling values have started falling in Sydney, the city remains substantially more expensive than the other capital cities. In fact, whether you look at the cost of houses or the cost of units, Sydney stands out as being much more expensive.
The above chart clearly highlights how the cost of a house is substantially higher, despite the recent value falls, than the cost of a house across each of the other capital cities. The chart also highlights the much greater escalation in house values in Sydney and Melbourne over recent years relative to the other capital cities.
The full text of this article is available to MacroBusiness subscribers
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.
