By the way, you can click on these charts to make them bigger.
The total value of residential land has seen more than a tenfold increase since 1989.
In fact, the size of the Australian population has expanded by only 18 per cent over the past decade.
Despite the solid increases over time, Australians would be wise to note that even where the population is growing residential land values can still decline.
Indeed, both Western Australia and the Northern Territory saw their total residential land values fall in aggregate over the last financial year by 4 per cent and 2 per cent respectively, even if vacant greenfield lot prices are as high as they have ever been.