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:

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