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The average Australian property price grew 0.5% per year from 1890 to 1990 after inflation, [1] however rose from 1990 to 2017 at a faster rate. House prices in Australia receive considerable attention from the media and the Reserve Bank [2] and some commentators have argued that there is an Australian property bubble. [citation needed]
The Australian property bubble ... (about double the world average in 2010- see Population growth rates chart). ... % Population Growth. Australia - high growth rate ...
The average weekly price for a rental in Australia is $570 per week. Units are typically cheaper, at a national median of $540 vis-a-vis houses at $582. [3] Rental prices grew nationally by 10.1% between 2022 and 2023; substantially higher than the annualised CPI rate of 7% for the period.
Home ownership in Australia is becoming more exclusive. The ratio of the price of the average home to Australians' average income was at an all-time high in the late 1990s. [12] Young people are buying homes at the lowest rates ever, and changes in work patterns are reducing many households' ability to retain their homes. [13]
According to a report published by the OECD in November 2005, Australia has the most overvalued houses in the Western world, with prices 52 percent higher than that justified by rental values. [15] Since the 1980s Sydney's average capital growth has been growing 7.4% per year, which means that the average property prices doubled in value every ...
US house price trend (1998–2008) as measured by the Case–Shiller index Ratio of Melbourne median house prices to Australian annual wages, 1965 to 2010. As with all types of economic bubbles, disagreement exists over whether or not a real estate bubble can be identified or predicted, then perhaps prevented.
The World Bank expected Australia's GDP growth rate to be 3.2% in 2011 and 3.8% in 2012. [56] The economy expanded by 0.4% in the fourth quarter of 2011, and expanded by 1.3% in the first quarter of 2012. [57] [58] The growth rate was reported to be 4.3% year-on-year. [59]
The Australian crime rate statistic for 2021 was 0.74, a 13.51% decline from 2020. [30] Demography: The ABS publishes many demographic releases including data on population, [31] population growth [32] and projections, [33] interstate and overseas migration, [34] births, [35] deaths [36] and overseas arrivals and departures. [37]