Australian property valuations hit a double top

The ABS yesterday released its property price data for the June quarter, which valued Australia’s dwelling stock owned by households at $6.82 trillion, whereas the total housing stock was valued at $7.14 trillion.

As shown below, the total value of Australia’s dwelling stock owned by households was 7.2 times employee incomes as at June 2020, up from June 2019’s trough of 7.0, but still below the 7.8 times incomes at the peak in June 2017. The total housing stock was valued at 7.6 times employee incomes in June, below the 8.1 times incomes in June 2017:

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