The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Tuesday, July 10, 2012

The stunning commonality in Australian and UK house prices since 1995 (chart)

I've made this point before, and have just updated the analysis. The chart compares Australian and UK house prices indexed to 100 in December 1995 (ie, well before the respective pre-GFC booms). Observe that the run-up in UK house prices prior to the GFC was much stronger than what we experienced here in Australia. Likewise, the correction was far more acute. Yet today the compound annual growth rates over the last one and a half decades are virtually identical. And UK and Australian house prices look to now be stabilising (especially if we extended the Aussie data through to July with RP Data-Rismark's daily index).




at 5:37 AM