Australian Property

HIA: Housing affordability “best since 1999” (not!)

Leith van Onselen
Wednesday, 10 July 2019
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From the HIA comes the outlandish claim that Australian housing affordability is the “best since 1999”:

“The combination of lower home prices, improvements in wage growth and lower interest rates have contributed to the ongoing improvement in the HIA Affordability Index for the June 2019 quarter,” said Geordan Murray, HIA Senior Economist.

HIA’s Affordability Index is calculated for each of the eight capital cities and regional areas on a quarterly basis and takes into account the latest dwelling prices, mortgage interest rates and wage developments.

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About the author
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.