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Australia’s housing market is an unmitigated disaster on almost every metric.
Cotality’s latest housing affordability report showed that dwelling values relative to household incomes were tracking at a record high of 8.2 in the September quarter of 2025:
The ratio of mortgage payments to household income was tracking at a near record high of 45.0% in the September quarter, despite three 25 bp cuts to the official cash rate by the Reserve Bank of Australia (RBA):
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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.