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The Inexorable Rise in House Prices in Australia since 1970: Unique or Not?

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  • Nigel Stapledon

Abstract

type="main" xml:lang="en"> The period since 1970 has seen a very significant rise in house prices and rents in real terms in Australia. The geographical variance in house prices in the United States over the same period provides an insight into the rising value attached to amenity and the impact of supply constraints in explaining the rise. Financial deregulation and low interest rates are the key factors that, after 1991, boosted prices but at the same time limited rent growth. These factors are a one-off and not a guide to the future. The decline in home-ownership rates requires a more nuanced debate.

Suggested Citation

  • Nigel Stapledon, 2016. "The Inexorable Rise in House Prices in Australia since 1970: Unique or Not?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 49(3), pages 317-327, September.
    • Handle: RePEc:bla:ausecr:v:49:y:2016:i:3:p:317-327
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    Cited by:

    1. Gavin A. Wood & Rachel Ong, 2017. "The Australian Housing System: A Quiet Revolution?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 50(2), pages 197-204, June.
    2. Tim Robinson & Viet H. Nguyen & Jiao Wang, 2017. "The Australian Economy in 2016–17: Looking Beyond the Apartment Construction Boom," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 50(1), pages 5-20, March.

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