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International house prices

Author

Listed:
  • Australian Treasury

    (Treasury, Government of Australia)

Abstract

This article examines developments in house prices in a number of countries over recent years. It shows that while the magnitude of house price movements have differed across countries, the recent trend of rising prices in Australia has also been experienced in some other developed countries. This article also examines changes in housing affordability arising from changes in house prices, interest rates, housing debt and disposable income in the United Kingdom, Australia and the United States. Finally, the relationship between house and share prices is also discussed.

Suggested Citation

  • Australian Treasury, 2003. "International house prices," Economic Roundup, The Treasury, Australian Government, issue 1, pages 111-129, April.
    • Handle: RePEc:tsy:journl:journl_tsy_er_2003_1_3
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    File URL: http://archive.treasury.gov.au/documents/580/PDF/Roundup_Autumn_2003.pdf
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    More about this item

    Keywords

    consumer debt; disposable income; housing; interest rates;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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