CoreLogic’s Cameron Kusher has released research showing that Australian housing affordability remains stretched despite the recent decline in dwelling values:
A -3.5% decline in national dwelling values from their peak to October 2018 means that values are now the lowest they’ve been since January 2017. Given this, if you’ve purchased a property any time since January 2017 it is likely that your property is worth less than you paid for it. While home owners don’t like to see the value of their assets falling, to put this into perspective values are still 44.8% higher over the past decade and 209.9% higher over the past 20 years.
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
