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SQM Research’s managing director, Louis Christopher, released a report claiming that Sydney’s housing market remained 21% overvalued when measured against GDP.
This week Christopher has returned with a similar report on Melbourne, which claims property values remain 27% overvalued:
Last week we posted our preferred measurements of housing market valuation – House prices to Nominal GDP. The chart was on Sydney. This week we are running the chart for Melbourne
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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.