Thursday, March 3, 2011

Australian home prices world's most over-priced: Economist survey

Australian home prices world's most over-priced: Economist survey: "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.