Australian housing market the world's most overvalued

A survey by London's The Economist of world housing prices puts Australia's as the most over valued in the world. "Our analysis of 'fair value' in housing, which is based on comparing the current ratio of house prices to rents with its long-run average, suggests," says the report", "that China has less to worry about than the likes of Australia, which is again the most overvalued of the markets we track. That makes it all the more surprising that Australia’s central bank opted not to increase its benchmark interest rate this month."

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