Australia’s median house price reached another record high of $1.113 million this week, ($1.6 million in Sydney) representing an annualised rate rise of more than 7 per cent, despite interest rates being the highest in more than a decade.
Australia’s rental prices also continue their unrelenting rise amid record supply scarcity, prompting economists to conclude crisis is inadequate to describe what’s happening in housing.
Australia’s economy meanwhile grew a tepid 0.2 per cent in the last quarter of 2023 and a meagre 1.5 per cent over the year, the slowest annual rate of economic growth since the 1990’s recession, excluding the pandemic and the introduction of the GST in 2000.
Want to know how this story ends?
Become a subscriber for complete access to all stories on InnovationAus.com and our daily newsletter.
Do you know more? Contact James Riley via Email.