The OECD released comparative data on housing valuations overnight. And despite Aussie John Symonds’ claim that “there’s never been a better time to buy property”, it showed Australian housing to be the sixth most over-valued in the OECD, with house prices relative to incomes 21% over-valued and prices relative to rents 37% over-valued compared to their long-run averages (see next chart).
A table summarising the results is provided below:
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