This Blog is designed to provide information about buying or renting apartments in Brisbane, Australia.
Friday, March 4, 2011
"Australian house prices remain the most overvalued in the world, according to the latest quarterly ranking of global house prices by The Economist magazine.
Based on a historical gauge of home prices to rents between 1975-2010, the magazine estimates that Australian residences are 56 per cent over-valued, exceeding the 54 per cent over-priced rate in Hong Kong and 48 per cent in France.
"There may be good reasons for Australian prices to have risen so far, but people made similar, and ultimately incorrect, arguments for the run-up in prices in the West,"The Economist said in a statement accompanying the survey's release."