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Australia’s household sector appears to hold a greater proportion of its wealth in dwellings than do households in other countries. Average dwelling prices in Australia also appear to be high relative to household income, but dwellings in Australia are not noticeably higher in quality than...
This paper addresses the question of how changes in stock market wealth and housing wealth affect consumption expenditure in Australia. We approach the problem using a panel of Australian states, for which we construct data on housing and stock market wealth.
This paper uses household level data from the HILDA survey to relate households' leverage to their observed characteristics. It also models the decisions to own a home and to have debt against it.
Over the past few years, household borrowing against the stock of housing has increased by more than household spending on new housing and renovations. As a result, the household sector has effectively extracted equity from the housing stock, though the net amount withdrawn has recently...
Over the past few years, developments in housing prices have been of significant concern to policy-makers in many countries. But measurement problems make it difficult to assess developments accurately with the available data. This article summarises research on the measurement of aggregate housing prices, and...
In the past decade or so there has been a substantial rise in the indebtedness and debt-servicing obligations of Australian households. This has been accompanied by a trend increase in labour force participation (LFP) for women and more recently for men. Microeconomic data show a...
Even adjusting for inflation, housing prices have risen by roughly 12 per cent over the past year in the major cities, and by not much less in regional areas. This paper looks at the implications.
The paper concludes that the recent data suggest that...
As first-home buyers make greater use of mortgages to fund purchases than do repeat buyers, a shift in the composition of turnover helps to explain the recent divergence in movements in housing prices and loan approvals.
While housing turnover varies over time, on average,...