Australia takes silver medal in global house price race

Friday 17 July 2020

Those pesky New Zealanders have beaten us again, stealing the gold medal for the unenviable title of having had the largest increase in real house prices since 1980:

Watch as Western countries compete for the unenviable position of having had the largest increase in real house prices since 1980.

This is a race no one wants to win, particularly if they can’t back it up with equally rampant increases in wages or quality of their housing stock. pic.twitter.com/V8WtWceRL0

— Mathew Pottinger (@matpottinger) June 19, 2020

At least we have beaten them on household debt, where Australia has also taken the silver medal (behind Switzerland):

C’mon Australia, we need to try harder. Coming second is first last [/S].

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.