What is Australia's housing market like?

Australia’s economic and trade situation is much different from the US and Canada, yet housing price dynamics are very similar. Australia’s housing price to income and housing price to rent ratios are about the same as the United States.

What are some examples of empirical research into Australian housing market?

Most empirical research into the Australian housing market has focused on individual equations. For example, Bourassa and Hendershott (1995), Abelson et al (2005) and Tumbarello and Wang (2010) examine housing prices; McLaughlin (2011) and Gitelman and Otto (2012) examine housing construction.

What will Melbourne's housing market look like in 2022-23?

As borders reopen and international students return, Victoria’s population growth will bounce back to 1.5% by 2022-23. There will be a rise in dwelling construction aided by the state’s ‘Big Housing Build’ and build-to-rent investment. Melbourne’s median unit price is set to hit bottom in 2023, then rebound to around $647,000 by June 2025.

Are Australian House prices soaring?

Australian house prices are soaring – even more than usual. In Sydney, they’re up 19% in the past year and in Melbourne they’re up 15%, based on official figures. Corelogic’s index says they’re up 18.4% across the country in that time, the fastest pace of growth since 1989. The median dwelling price in Sydney is now an eye-watering $1.19m.