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The Real Story of Housing Prices in Australia from 1970 to 2003

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  • Peter Abelson
  • Demi Chung

Abstract

Despite the popular and public policy interest in housing prices, there have been few reliable published data for housing prices in Australia. In this article we aim to provide an authoritative account of prices for houses and apartments (units) in Australia from 1970 to 2003. Where possible we draw on data from land title offices or on studies that draw on these data, but we also draw on supplementary data in some cases. The first part of the article describes the major data sources of Australian house prices. The main body of the article provides our best estimates of median house and unit prices and real price indices in the capital cities and in the rest of Australia along with explanations for their derivations. We also estimate how improvements in housing quality have influenced real house prices. Copyright 2005 The University of Melbourne, Melbourne Institute of Applied Economic and Social Research.

Suggested Citation

  • Peter Abelson & Demi Chung, 2005. "The Real Story of Housing Prices in Australia from 1970 to 2003," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 38(3), pages 265-281, September.
  • Handle: RePEc:bla:ausecr:v:38:y:2005:i:3:p:265-281
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    Cited by:

    1. Hill, Robert J. & Syed, Iqbal A., 2016. "Hedonic price–rent ratios, user cost, and departures from equilibrium in the housing market," Regional Science and Urban Economics, Elsevier, vol. 56(C), pages 60-72.
    2. Adrienne Mack & Enrique Martínez-García, 2011. "A cross-country quarterly database of real house prices: a methodological note," Globalization and Monetary Policy Institute Working Paper 99, Federal Reserve Bank of Dallas.
    3. Renée A. Fry & Vance L. Martin & Nicholas Voukelatos, 2010. "Overvaluation in Australian Housing and Equity Markets: Wealth Effects or Monetary Policy?," The Economic Record, The Economic Society of Australia, vol. 86(275), pages 465-485, December.
    4. James Bugden, 2013. "Renovations and the Repeat-Sales House Price Index," Working Papers 2013.08, School of Economics, La Trobe University.
    5. Xin Janet Ge & Brendan Williams, 2015. "House Price Determinants in Sydney," ERES eres2015_230, European Real Estate Society (ERES).
    6. Ryan Greenaway-McGrevy & Arthur Grimes & Mark Holmes, 2016. "Two countries, sixteen cities, five thousand kilometres: How many housing markets?," ERSA conference papers ersa16p49, European Regional Science Association.
    7. Ryan Fox & Richard Finlay, 2012. "Dwelling Prices and Household Income," RBA Bulletin, Reserve Bank of Australia, pages 13-22, December.

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