IDEAS home Printed from https://ideas.repec.org/a/bla/ausecr/v58y2025i1p5-15.html

The Australian Economy in 2024–2025: Living and Housing Affordability

Author

Listed:
  • Guay Lim
  • Viet Nguyen
  • Tim Robinson
  • Sarantis Tsiaplias

Abstract

The economy grew at a well below‐trend pace in 2023/2024. Inflation fell, and the unemployment rate edged higher, but these changes were not sufficient to convince the Reserve Bank of Australia to start cutting the cash rate. In 2024, the federal Budget included cost‐of‐living financial support, as well as measures to support housing affordability, but living standards continued to slip as real GDP per capita fell. Overall, the Misery Index for Australia remains high and ongoing uncertainty about the United States and Chinese economies are downside risks to the outlook for 2024/2025.

Suggested Citation

  • Guay Lim & Viet Nguyen & Tim Robinson & Sarantis Tsiaplias, 2025. "The Australian Economy in 2024–2025: Living and Housing Affordability," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 58(1), pages 5-15, March.
    • Handle: RePEc:bla:ausecr:v:58:y:2025:i:1:p:5-15
    DOI: 10.1111/1467-8462.12586
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1467-8462.12586
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1467-8462.12586?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Warwick J. McKibbin & Megan Hogan & Marcus Noland, 2024. "The international economic implications of a second Trump presidency," Working Paper Series WP24-20, Peterson Institute for International Economics.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Xizan Jin & Lili Chen & Danrui Jin & Ziyi Chen & Heyuan You, 2025. "Effects of urban migrants’ public services access on non-housing consumption under housing pressure in China," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-18, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pitkäranta, Juho & Raukola, Antti, 2025. "Impacts of the Trump 2.0 agenda on tariffs, fiscal policy, climate, deportation and financial regulation," BOFIT Policy Briefs 20/2025, Bank of Finland Institute for Emerging Economies (BOFIT).
    2. Matthew Greenwood‐Nimmo & Viet Hoang Nguyen & Tim Robinson & Sarantis Tsiaplias, 2026. "The Australian Economy in 2025–26: Domestic Challenges in an Uncertain International Policy Environment," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 59(1), pages 5-15, March.
    3. Kaan Celebi & Werner Roeger, 2025. "US Tariffs in a Model with Trade and FDI," Discussion Papers of DIW Berlin 2111, DIW Berlin, German Institute for Economic Research.
    4. Ejiro Zaye, 2025. "The Role of Trade Tariff Policy on US Supply Chain Imbalance and Trade Deficits Reduction: Evidence from Trend and Univariate Analyses," International Journal of Supply Chain and Logistics, CARI Journals Limited, vol. 9(5), pages 55-73.
    5. Emanuel Kohlscheen & Phurichai Rungcharoenkitkul & Dora Xia & Fabrizio Zampolli, 2025. "Macroeconomic impact of tariffs and policy uncertainty," BIS Bulletins 110, Bank for International Settlements.
    6. Ferriani, Fabrizio & Gazzani, Andrea & Taboga, Marco, 2025. "The impact of Trump’s victory on equity markets: The power of proximity," Economics Letters, Elsevier, vol. 247(C).
    7. Ejiro Zaye, Mba, 2025. "The Role of Trade Tariff Policy on US Supply Chain Imbalance and Trade Deficits Reduction: Evidence from Trend and Univariate Analyses," Journal of Business and Strategic Management, CARI Journals Limited, vol. 10(8), pages 71-89.
    8. Blagov, Boris & Grozea-Helmenstein, Daniela & Kirsch, Florian & Weyerstraß, Klaus, 2024. "Die wirtschaftliche Entwicklung im Ausland: Weltwirtschaft wächst moderat bei hohen politischen Unsicherheiten," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 75(4), pages 5-31.
    9. Thierfelder, Karen & Robinson, Sherman & Hinojosa-Ojeda, Raul, 2025. "The impact of US deportation policies on the US, Canadian, and Mexican economies," Journal of Policy Modeling, Elsevier, vol. 47(4), pages 746-767.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ausecr:v:58:y:2025:i:1:p:5-15. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/mimelau.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.