My mistake, the data only goes back to the 1700s

Piet Eichholtz the Amsterdam series 1628-1973

http://www.questia.com/googleScholar.qst;jsessionid=L5RRx0Db...

It's interesting data if you have this conversation :

"Buy property it always goes up" "It always goes up due to inflation" "no over the long term it always goes up in real terms, if you pay A x average yearly income for a property then in 10 years you can sell it for A + B x average yearly income!" "Well here is a graph that shows B is hovering around 0 from 1628 to 1945 and has risen dramatically since then".

It certainly is a different way to look at things.