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The ABS yesterday released its property price data for the June quarter, which valued Australia’s dwelling stock owned by households at $8.5 trillion, whereas the total housing stock was valued at $8.9 trillion.
As shown below, the ratio of the dwelling stock owned by households against Australian GDP hit a record 4.1 times as at June 2021, up from June 2019’s trough of 3.3 times GDP.
The total housing stock was valued at a record 4.3 times GDP in the June quarter, up from the last trough of 3.4 times GDP as at June 2019:
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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.