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A History of Housing Prices in Australia 1880-2010

Author

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  • Nigel Stapledon

    () (School of Economics, The University of New South Wales)

Abstract

This paper introduces series of house and land prices for Australia’s major capital cities for the period 1880-1970 which, spliced to modern data, give series spanning 1880-2010. The broad trends in prices for houses, land and rents highlight no significant movement in real prices for the first seventy years followed by a persistent and significant trend rise in prices. Cycles in house prices and housing activity played a major part in each of the seven major economic cycles in this period, the first associated with the 1880s boom/1890s depression and finishing with a major cycle which commenced in the mid-1990s.

Suggested Citation

  • Nigel Stapledon, 2010. "A History of Housing Prices in Australia 1880-2010," Discussion Papers 2010-18, School of Economics, The University of New South Wales.
  • Handle: RePEc:swe:wpaper:2010-18
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    File URL: http://research.economics.unsw.edu.au/RePEc/papers/2010-18.pdf
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    References listed on IDEAS

    as
    1. Ernest M. Fisher, 1951. "Urban Real Estate Markets: Characteristics and Financing," NBER Books, National Bureau of Economic Research, Inc, number fish51-1.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters,in: This Time Is Different: Eight Centuries of Financial Folly Princeton University Press.
    3. Reinhart, Karmen & Rogoff, Kenneth, 2009. ""This time is different": panorama of eight centuries of financial crises," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 77-114, March.
    4. John Simon, 2003. "Three Australian Asset-price Bubbles," RBA Annual Conference Volume,in: Anthony Richards & Tim Robinson (ed.), Asset Prices and Monetary Policy Reserve Bank of Australia.
    5. Neutze, Max G, 1972. "The Cost of Housing," The Economic Record, The Economic Society of Australia, vol. 48(123), pages 357-373, September.
    6. Leo Grebler & David M. Blank & Louis Winnick, 1956. "Capital Formation in Residential Real Estate: Trends and Prospects," NBER Books, National Bureau of Economic Research, Inc, number greb56-1.
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    Cited by:

    1. Alasdair Brown & Dooruj Rambaccussing & J. James Reade & Giambattista Rossi, 2016. "Using Social Media to Identify Market Inefficiencies: Evidence from Twitter and Betfair," Dundee Discussion Papers in Economics 293, Economic Studies, University of Dundee.
    2. Jinke Li & Geoffrey Meen, 2016. "Agent Based Models, Housing Fluctuations and the Role of Heterogeneous Expectations," Economics & Management Discussion Papers em-dp2016-09, Henley Business School, Reading University.

    More about this item

    Keywords

    Australia; house prices; land prices; gross dwelling rents; price and rent controls; housing cycles; economic cycles.;

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • N97 - Economic History - - Regional and Urban History - - - Africa; Oceania
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy

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    1. Historical Economic Geography

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