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Figure 1: Increasing Price of houses in Australia

In Australia, the household wealth of the citizens hold about 60 per cent in real estate, compared with 25 per cent in the US. Also, they hold a significant proportion of their wealth in property. The housing market   has a unique influence over Aussies’ lives. .

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Figure 1: Increasing Price of houses in Australia

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  1. In Australia, the household wealth of the citizens hold about 60 per cent in real estate, compared with 25 per cent in the US. Also, they hold a significant proportion of their wealth in property. • The housing market  has a unique influence over Aussies’ lives.

  2. Figure 1: Increasing Price of houses in Australia • The supply of housing will become even more critical - fills shortages in the market • House prices have risen significantly over the past 30 years, (Inflation, income growth)

  3. Conclusion • Governments have an important role to play in facilitating efficient housing outcomes.

  4. Reference List: • Phil, C 2011, Supply of housing must be improved, The Sydney Morning Herald, viewed at 14 October 2012, <http://www.smh.com.au/business/supply-of-housing-must-be-improved-20110602-1fisp.html> • Richard, F 2012, The Distribution of Household Wealth in Australia: Evidence from the 2010 HILDA Survey, view at 14 October 2012, http://www.rba.gov.au/publications/bulletin/2012/mar/3.html • Tania, L 2012, Real estate down under proving to be very attractive, viewed at 14 October 2012, <http://www.chinadaily.com.cn/bizchina/2012-01/30/content_14503918.htm>

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