Aussie housing towers over economy

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:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

Share

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.