From memory, Australia's total real estate market value divided by GDP is above 4, the second-highest in the world.
NZ's is like 5.5.
I get it, both are popular places to stash money in the property market and take out a second citizenship, but man, the number of young Kiwis I meet out here because they can't buy a house at home...
And I'm like, what, man, you came here? And they're like yeah man, costs the same at home but the wages are lower...