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Australia: Selected Issues

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  • International Monetary Fund

Abstract

This Selected Issues paper analyzes the housing prices in Australia. Housing prices in Australia have increased strongly over the past two decades, including by comparison internationally. Thus housing prices are often argued to be overvalued. Many counter-arguments have been put forward for why such measures are flawed. This paper argues that housing prices are moderately stronger than consistent with current economic fundamentals, but less than a comparison to historical or international averages would suggest. International comparisons of price-to-income ratios suggest that Australia is broadly in line with comparator countries, although significant data comparability issues make inference difficult.

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  • International Monetary Fund, 2015. "Australia: Selected Issues," IMF Staff Country Reports 2015/275, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2015/275
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=43321
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    1. Berg, Andrew & Ostry, Jonathan D. & Zettelmeyer, Jeromin, 2012. "What makes growth sustained?," Journal of Development Economics, Elsevier, vol. 98(2), pages 149-166.
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    Cited by:

    1. International Monetary Fund, 2016. "New Zealand: Selected Issues," IMF Staff Country Reports 2016/040, International Monetary Fund.
    2. Ms. Elena Loukoianova & Yu Ching Wong & Ioana Hussiada, 2019. "Household Debt, Consumption, and Monetary Policy in Australia," IMF Working Papers 2019/076, International Monetary Fund.
    3. Grace Taylor & Rod Tyers, 2017. "Secular Stagnation: Determinants and Consequences for Australia," The Economic Record, The Economic Society of Australia, vol. 93(303), pages 615-650, December.

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