<\/p>\n
PHOTO:\u00a0The Australian economy\u2019s ability to go over 27 years without recession has relied heavily on residential property<\/strong><\/p>\n Residential property holds a special place in the Australian economy. From the booms to the declines, understanding the Australian housing market is crucial to understanding the nation\u2019s past, present and future prosperity.<\/p>\n The value of Australian residential property has climbed considerably in the past quarter century. According to CoreLogic analysis conducted in 2018, the median value of Australian houses increased by 412% in the 25 years since 1993.<\/p>\n The growth in property values has also been well-spread throughout the country. Measured by the annual percentage in change in house values, the major Eastern capital cities, Sydney and Melbourne, lead the nation at 7.6% and 8.1%, respectively. However, the smaller cities of Adelaide and Brisbane, which saw the weakest growth across the country\u2019s capitals relatively speaking, still experienced respectable growth in their residential property markets of 5.9%.<\/p>\n Benefitting from rising terms of trade, supportive monetary policy, attractive fiscal conditions, foreign investment, and carefully managed immigration policy, property has proven a powerful means of growing the wealth of the nation, along with that of individual households. It\u2019s been the successful transfer of wealth from the\u00a0mining boom<\/a>, through the financial system to the household sector, that has driven this process and turned Australian\u2019s into a nation of hopeful homeowners.<\/p>\n READ MORE VIA IG<\/a><\/p>\n <\/p>\nAustralian housing market history<\/h2>\n
\n