The Economist.com posts an article that provides insight across 22 countries The report highlights recent price trends as well as long term trends and an insight into their evaluation of whether property prices are overvalued or undervalued and by how much.
1997 to 2010 their data shows global appreciation with the majority of countries seeing around a doubling of value. New Zealand’s position is slap bang in the middle comparing data for the 22-countries with a period appreciation of 108%.
The report shares their evaluation as to how over priced (or under priced) each countries properties are. New Zealand’s relative property price is deemed to be over priced by 20% which is consistent with the views of a number of property commentators here in NZ.