The ABS yesterday released its property price data for the March quarter, which valued Australia’s dwelling stock owned by households at $7.9 trillion, whereas the total housing stock was valued at $8.3 trillion.
As shown below, the ratio of the dwelling stock owned by households against Australian GDP hit a record 4.0 times as at March 2021, up from June 2019’s trough of 3.3 times GDP. The total housing stock was valued at a record 4.2 times GDP in the March quarter, up from the last trough of 3.4 times GDP as at June 2019:
Australian housing values dwarf the economy.
