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A History of Housing Prices in Australia 1880-2010

Author

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  • Nigel Stapledon

    (School of Economics, The University of New South Wales)

Abstract

This paper introduces series of house and land prices for Australia’s major capital cities for the period 1880-1970 which, spliced to modern data, give series spanning 1880-2010. The broad trends in prices for houses, land and rents highlight no significant movement in real prices for the first seventy years followed by a persistent and significant trend rise in prices. Cycles in house prices and housing activity played a major part in each of the seven major economic cycles in this period, the first associated with the 1880s boom/1890s depression and finishing with a major cycle which commenced in the mid-1990s.

Suggested Citation

  • Nigel Stapledon, 2010. "A History of Housing Prices in Australia 1880-2010," Discussion Papers 2010-18, School of Economics, The University of New South Wales.
    • Handle: RePEc:swe:wpaper:2010-18
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    File URL: http://research.economics.unsw.edu.au/RePEc/papers/2010-18.pdf
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    References listed on IDEAS

    as
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    5. Chay Fisher & Christopher Kent, 1999. "Two Depressions, One Banking Collapse," RBA Research Discussion Papers rdp1999-06, Reserve Bank of Australia.
    6. James Hansen, 2006. "Australian House Prices: A Comparison of Hedonic and Repeat-sales Measures," RBA Research Discussion Papers rdp2006-03, Reserve Bank of Australia.
    7. John Simon, 2003. "Three Australian Asset-price Bubbles," RBA Annual Conference Volume (Discontinued), in: Anthony Richards & Tim Robinson (ed.),Asset Prices and Monetary Policy, Reserve Bank of Australia.
    8. repec:bla:ecorec:v:48:y:1972:i:123:p:357-73 is not listed on IDEAS
    9. Leo Grebler & David M. Blank & Louis Winnick, 1956. "Capital Formation in Residential Real Estate: Trends and Prospects," NBER Books, National Bureau of Economic Research, Inc, number greb56-1, January.
    10. Nalini Prasad & Anthony Richards, 2006. "Measuring Housing Price Growth – Using Stratification to Improve Median-based Measures," RBA Research Discussion Papers rdp2006-04, Reserve Bank of Australia.
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    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Pinprapa Sangchan & Ahsan Habib & Haiyan Jiang & Md. Borhan Uddin Bhuiyan, 2020. "Fair Value Exposure, Changes in Fair Value and Audit Fees: Evidence from the Australian Real Estate Industry," Australian Accounting Review, CPA Australia, vol. 30(2), pages 123-143, June.
    2. Vicente Esteve & María A. Prats, 2021. "Testing for rational bubbles in Australian housing market from a long-term perspective," Working Papers 2113, Department of Applied Economics II, Universidad de Valencia.
    3. Jinke Li & Geoffrey Meen, 2016. "Agent Based Models, Housing Fluctuations and the Role of Heterogeneous Expectations," Economics Discussion Papers em-dp2016-09, Department of Economics, University of Reading.
    4. Geoffrey Meen & Alexander Mihailov & Yehui Wang, 2016. "Endogenous UK Housing Cycles and the Risk Premium: Understanding the Next Housing Crisis," Economics Discussion Papers em-dp2016-02, Department of Economics, University of Reading.

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    More about this item

    Keywords

    Australia; house prices; land prices; gross dwelling rents; price and rent controls; housing cycles; economic cycles.;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • N97 - Economic History - - Regional and Urban History - - - Africa; Oceania
    • 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
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy

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    1. Historical Economic Geography

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