This paper describes and explains house and land prices in Sydney from 1925 to 1970. Between the late 1920's and the late 1940's, real estate values fell in real terms by around 20 per cent. Depressed incomes and expectations and rent control held down prices despite the fall in real interest...

This paper describes and explains house and land prices in Sydney from 1931 to 1989. Throughout this period, house and land prices fell, generally exponentially, with distance to the CBD. However, the price gradients were not constant. Between 1931 and 1968 the gradients flattened. On the other...