Late last month, the Australian Bureau of Statistics (ABS) released its 2018-19 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 fell heavily when measured against GDP.
The release on Friday of the annual state accounts by the ABS has enabled me to calculate residential land values as a percentage of gross state product (GSP), which provides a measure of over/under valuation.
