Residential property ownership has become a key element for many Australians in their wealth accumulation strategy but it also means they are the most exposed to any price falls with increasing household debt.
Jolts to the housing market have the potential to significantly slow economic growth, which will have implications for all Australians.
The increased interest in the residential housing market has meant that there is no shortage of commentary in this space.
Public commentary around the future of house prices in key markets such as Sydney and Melbourne fluctuates from doom and gloom with predicted crashes to continuing growth.
CEDA’s aim in drawing together this report is to take a holistic review of housing in Australia.
Key areas examined in this report include: s Housing trends in Australia;
- The experience of Australia’s housing sector compared with other countries in the OECD;
- Supply of housing: from land availability to changes in the composition of housing stock;
- Drivers of demand and possible policy levers; and
- The intergenerational consequences of high housing costs and falling home ownership.
House prices impact almost all Australians as either owners or renters, with increasing prices having a flow-on effect to rental prices, and therefore will continue to be on the national agenda.