Tangentland
Isn't it just a great overlay.
Although on the long time line the depreciation in the value of the AUD $ should in fairness be excluded from the exponential increase house prices over time.
That exclusion would flatten the nearly 140 year progression into something more linear and flatter. If so, does this make Australian house prices more realistic?
Perhaps?
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But there are fundamental reasons why Australian house prices are as high as they are, at the moment.
Those fundamental reasons, I'd argue lie in a troika of prime potential reasons i) domestic banking propensity to fund housing ii) legal caveat & tax allowances iii) political interest & intervention.
With a very fudgy Venn diagram as to where any one potential reason applies most over the other two!
With a fourth iv) as background to that Venn diagram, as the international flush of money caused through international quantitative easing.
Easy credit assets looking for a home (literally)
fwiw
