Rahman, Mohammad Mafizur (2010) The Australian housing market - understanding the causes and effects of rising prices. Policy Studies, 31 (5). pp. 577-590. ISSN 0144-2872
Abstract
This article analyses current housing market conditions in Australia; specifically the factors that have caused increased housing prices in recent years and there implications. The article finds that the number of home-owners with a mortgage and the number of renters have increased. For owners with a mortgage, average housing costs escalated substantially. Interest rates, investment demand, economic climate, financial deregulation and innovation, land supply and the land-use planning system, government taxes, levies and charges, demography, economic growth, and wealth effect all play a vital role in influencing housing prices. Rising house prices positively impact on home owners’ wealth, aggregate demand, employment and real GDP, and reduce affordability of first home buyers and well-beings of Australians in aggregate. It is argued that increasing the supply of housing, approval of tax-free savings for first home buyers, regional development and reduction of government taxes, levies and charges should be the focus of future policy development to redress these problems.
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| Item Type: | Article (Commonwealth Reporting Category C) |
|---|---|
| Refereed: | Yes |
| Item Status: | Live Archive |
| Additional Information: | Permanent restricted access to Published version, due to publisher's copyright restrictions. |
| Depositing User: | Dr Mafiz Rahman |
| Faculty / Department / School: | Historic - Faculty of Business - School of Accounting, Economics and Finance |
| Date Deposited: | 04 Dec 2010 12:03 |
| Last Modified: | 01 Oct 2015 05:37 |
| Uncontrolled Keywords: | Australia; housing market; housing policy; housing prices |
| Fields of Research : | 15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150205 Investment and Risk Management 14 Economics > 1402 Applied Economics > 140299 Applied Economics not elsewhere classified 14 Economics > 1401 Economic Theory > 140104 Microeconomic Theory |
| Socio-Economic Objective: | B Economic Development > 91 Economic Framework > 9199 Other Economic Framework > 919999 Economic Framework not elsewhere classified B Economic Development > 91 Economic Framework > 9102 Microeconomics > 910211 Supply and Demand |
| Identification Number or DOI: | doi: 10.1080/01442872.2010.497261 |
| URI: | http://eprints.usq.edu.au/id/eprint/9036 |
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