Australian Houses Priced in Gold / Silver Ounces (2015)
Housing Peak Against Gold (February 2005): 501oz Gold
Based on Current Spot Price: 271oz Gold, 21,375oz Silver
Brisbane (Ounces to buy a house)
Precious Metals Peak (January 1980): 62oz Gold, 1091oz Silver
Based on Current Spot Price: 309oz Gold, 24,375oz Silver
Melbourne (Ounces to buy a house)
Precious Metals Peak (January 1980): 67oz Gold, 1181oz Silver
Housing Peak Against Gold (February 2004): 661oz Gold
Based on Current Spot Price: 432oz Gold, 34,150oz Silver
Perth (Ounces to buy a house)
Housing Peak Against Gold (July 2007): 642oz Gold
Based on Current Spot Price: 329oz Gold, 26,000oz Silver
Sydney (Ounces to buy a house)
Housing Peak Against Gold (February 2004): 1100oz Gold
Based on Current Spot Price: 644oz Gold, 50,875oz Silver
(Spot Price ratio calculated on A$20oz for Silver, A$1580oz for Gold and July house prices)
A point of interest, Gold has outperformed most capitals since the last update, rising from $1360 in June 2014 to $1518 in July 2015. This has resulted in most cities seeing the ratio fall. That is with the exception of Sydney where house prices have outperformed Gold and rose a blistering 21% YoY to July 2015.
It’s also interesting how much later the peak for Perth property (to Gold) came as house prices boomed there into 2006/2007.
Source: http://www.bullionbaron.com/2015/08/australian-houses-priced-in-gold-silver.html
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