Fantastic source of Australian property market data

[John]

Dear all,

It's been a long time!

I had fully intended to send out an update during these last few weeks while on holiday, but work commitments got the better of me. Apologies for the delay, but you'll need to wait yet a little longer.

In the meantime, I want to bring to your attention an exceptional source of data on the Australian property market for those with an interest in this subject.

Please see the MacroBusiness article here: The history of Australian property values

The above article relates the work of PhD candidate, a Mr Philip Soos. That article contains a rich set of data by way of charts of various important metrics concerning the Australian property market, some of it going back to the 1800's. 

If you are interested in this subject, I consider it a "must read" and a fantastic source of long-term historical data.

As it happens, this data absolutely reinforces my long-held view that Australian property (specifically, land prices) is seriously overpriced presently and that the situation was/is fuelled by a surge in private debt of proportions that has no equal in Australian history. Furthermore, it seems to support my previous suggestions that the peak-to-trough declines in real prices of property will probably be in the vicinity of 50% (but, as an aside, I expect it will likely overshoot further than this for a time).  

If you are considering entering the property market, are currently "owning" property via debt (to occupy or to rent), then I simply cannot recommend this data enough. Please, please read and absorb it.

All the best,

John