The early stage of the Brisbane bubble was more rapid. The 20 US City index took over 4 years, and the Miami and LA indices took 3.5 years, to achieve the gains that the Brisbane bubble made in the first 18 months! Ultimately the Miami and LA bubbles proved to be bigger than the Brisbane one, but the presumptive peak of the Brisbane bubble is well above the peak of the 20 city index.
The LA and Miami house price bubbles were two of the biggest in the US, and their price indices have since collapsed by 26% and 28%, respectively. That the Brisbane house price index peaked between the peaks of these two cities, and the 20 city index, shows just what a huge bubble Brisbane house prices have been. |
