The Inexorable Rise in House Prices in Australia Since 1970: Unique or Not?

11 Pages Posted: 2 Sep 2016

See all articles by Nigel Stapledon

Nigel Stapledon

UNSW Australia Business School, School of Economics

Date Written: September 2016

Abstract

The period since 1970 has seen a very significant rise in house prices and rents in real terms in Australia. The geographical variance in house prices in the United States over the same period provides an insight into the rising value attached to amenity and the impact of supply constraints in explaining the rise. Financial deregulation and low interest rates are the key factors that, after 1991, boosted prices but at the same time limited rent growth. These factors are a one‐off and not a guide to the future. The decline in home‐ownership rates requires a more nuanced debate.

Suggested Citation

Stapledon, Nigel, The Inexorable Rise in House Prices in Australia Since 1970: Unique or Not? (September 2016). Australian Economic Review, Vol. 49, Issue 3, pp. 317-327, 2016, Available at SSRN: https://ssrn.com/abstract=2833609 or http://dx.doi.org/10.1111/1467-8462.12176

Nigel Stapledon (Contact Author)

UNSW Australia Business School, School of Economics ( email )

High Street
Sydney, NSW 2052
Australia

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