Capital city vacant land prices rose by +8.1 per cent over financial year 2016, according to CoreLogic.
And Sydney prices were up by a thumping +15.8 per cent on a per square metre basis.
Overall it's evident that capital city land prices are flying.
Only in Adelaide did capital city land prices decline marginally in real terms.
In November 2012 I wrote on the Property Observer website how investors should stick to the capital cities.
It wasn't entirely clear back then, of course, but as it turned out that quarter proved to be the peak of the mining investment boom, with construction activity declining ever since.
Domain reported today about how parts of Rockhampton have been struggling since 2007, but at least Rocky isn't a one trick pony.
Prices in Gladstone have crashed by 50 to 80 per cent!
In truth it's taken longer than I expected, but as the greatest mining investment boom in 150 years turns to bust median land prices in regional areas are deflating, declining by -1.9 per cent over the past year.