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The ABS last week released its property price data for the September quarter, which valued Australia’s dwelling stock owned by households at $8.85 trillion, whereas the total housing stock was valued at $9.26 trillion.
As shown below, the ratio of the dwelling stock owned by households against Australian GDP hit a record 4.2 times as at September 2021, up from June 2019’s trough of 3.3 times GDP.
The total housing stock was valued at a record 4.4 times GDP in the September 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.
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