AUSTRALIAN PROPERTY HAS GROWN AT A RAPID PACE
Australian property values have grown rapidly over the past 20 years, surpassing countries like Hong Kong, Malaysia, Singapore and the US. According to the Bank of International Settlements (BIS), house prices surged 6556% since the ‘60s at an average of 8.1% annually. Even in spite of current housing market headwinds, data shows that 9 out of 10 properties have been sold on the market at a profit.
Source: Abelson & Chung, ABS, REIA, NAPIC, Data.gov.hk, URA, HM Land Registry, Economic Research Division, Federal Reserve Bank of St. Louis, & RBNZ. IMAGE: CSI PROP