Original article by Jacob Greber
The Australian Financial Review – Page: 5 : 13-Aug-15

Almost 75 per cent of the increase in the ratio of net wealth to gross domestic product since the late 1980s is due to higher land prices. This is distinct from the value of houses built on that land, according to Reserve Bank of Australia deputy governor Philip Lowe, who claims Australia’s fascination with housing is in reality a fascination with land. He also concludes the obsession with property is not making the nation better off as a whole, with low interest rates implying low returns for savers and low underlying returns on assets.

CORPORATES
RESERVE BANK OF AUSTRALIA