Welcome to Say What Wednesday! Today’s question is about Labor’s plans to help with housing affordability. To answer that properly, I will spend today going through some underlying factors impacting Australia’s property market, and what affects housing affordability and how it works in the long term.
I will actually answer the question about Labor’s proposed policy on Friday. At the end I’ll run through what is probably one of the only ways to lower property prices sustainably in the future – IMO anyway.
Yes, a dry topic but stick with me, it’s worthwhile understanding what’s been going with property over the last 20 years or so.
Population size and growth
Why has our population grown by so much?
So why has this caused property price increases? Supply and demand!
The Outcome – 1994 to 2018
These are three that I can think of based around the drivers we have already discussed
With this as a background we’ll next look at the policy proposals in place …which was the question for this week 😊
Just a reminder that we’re offering 50% off the course for podcast listeners – use the code faf01
We’re we get the numbers? http://www.worldometers.info/world-population/australia-population/