MB Subscriber’s Report: The great Australian land bubble

The Australian Bureau of Statistics (ABS) has released annual national and state accounts for the 2020-21 financial year, which contains insightful data on house and dwelling values across Australia’s major jurisdictions.

Land values underpinning the Australian housing market experienced turbo-charged growth over the 2020-21 financial year, which land values also hitting their highest level on record as a share of the economy.

The next chart plots Australia’s aggregate land values by use relative to Australia’s gross domestic product (GDP) since 1989, which is as far back as the data goes:

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