This website provides real-time bubble indicators for housing markets in the eight Australian capital cities and primary New Zealand regions. These indicators provide a direct quantitative measure of the extent of housing fever in these major metropolitan areas. The measures are benchmarked against housing and macroeconomic fundamentals so that they provide a statistical mechanism for assessing the existence and the degree of speculative behaviour in these housing markets.
The markets considered are as follows.
- Australia: Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart, Darwin, and Canberra
- New Zealand: Auckland, Canterbury, Wellington, Bay of Plenty, Waikato, and Otago
Sep 2021
Table 1 presents the historical distribution of the growth rates of price-rent ratios and its growth rates over the last three months. We see a substantial slow down in the Sydney housing markets, compared with the previous quarter. The growth rate of the Sydney, Melbourne, Brisbane, Adelaide, Hobart, Canberra, and Canterbury markets remain in the
June 2021 Summary
Table 1 below summarizes historical growth rates of price-rent ratios and presents the growth rates over the last three months. The growth rates of the price-rent ratios in Sydney, Brisbane, Hobart, and Canberra remain in the upper 25th percentile of their historical distributions. The dot plots below show when the housing fever indicator was
March 2021 Summary
The Australian and New Zealand housing markets have been experiencing extraordinary growth in prices over recent months.
This project is supported by the Australian Research Council under Project No. DP190102049.