Australian Property Bubble
Are Australian House Prices Overvalued?
"...Normally in an unregulated economy, housing values should meet an equilibrium based on availability versus demand. When values increase, this suggests that availability has reduced or demand has increased (or both). In fact in Australia, both events have occurred. First, very low age interest rates and easy credit conditions led to increased borrowing capacity, thereby boosting demand for property. Second, strong population growth (including immigration and natural growth) further lifted demand. Third, the Australian government choked the supply of new dwelling stock, through high taxes and roadblocks on residential development. Finally, government incentives, such as taxes and grants are directed at the property market, also increasing demand. As a result, Australian median house prices have been on a rising trend in real terms (after inflation) for around sixty years, have increased particularly sharply from late 90s to early 2000s, and have remained at those elevated levels to the present day..."
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Australian Housing Bubble
This is an Australian economics and finance forum dedicated to discussion of the Australian and global housing markets, including house prices and the likelihood of a global house price crash (GHPC), or Australian house price crash. Will house prices crash, or boom? How will a credit crunch or peak debt situation impact Australian property? Can house prices rise forever, or is there a more simple and sustainable approach? http://s4.zetaboards.com/Australian_Property
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