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Experts concerned Treasury’s dependence on ‘cheap money’ will ratchet up house prices
By Maja Garaca Djurdjevic
15 February 2021
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1 minute read
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Housing experts and economists are concerned that the Treasury’s ongoing dependence on “cheap money” policy will further ratchet up house price and widen the gap between rich and poor.
Housing experts and economists have hit out at the government over its perceived lack of attention in regard to the impacts the housing system poses to economic productivity and growth.
A UNSW Future Centre study, commissioned by the Housing Productivity Research Consortium, found that 84 per cent of the surveyed 47 leading economists and 40 senior experts from government, industry and academia agreed that Australian governments have paid too little attention to how housing outcomes affect productivity and growth.
Could ‘cheap money’ ratchet up house prices? 16 February 2021 Maja Garaca Djurdjevic
Housing experts and economists are concerned that the Treasury’s ongoing dependence on “cheap money” policy will further ratchet up house price and widen the gap between rich and poor.
Housing experts and economists have hit out at the government over its perceived lack of attention in regard to the impacts the housing system poses to economic productivity and growth.
A UNSW Future Centre study, commissioned by the Housing Productivity Research Consortium, found that 84 per cent of the surveyed 47 leading economists and 40 senior experts from government, industry and academia agreed that Australian governments have paid too little attention to how housing outcomes affect productivity and growth.
UNSW/Everybody s Home
The overwhelming majority of Australia’s top economists and housing experts agree Australian governments pay too little attention to housing system impacts on productivity and growth, according to a new survey.
In the UNSW City Futures Centre study, led by Honorary Professor Duncan Maclennan and commissioned by the Housing Productivity Research Consortium formed by a group of private sector and non-profit stakeholders, 84 per cent of respondents agreed with the statement: Australian governments have paid too little attention to how housing outcomes also affect productivity and growth.
And 80 per cent agreed that: Rising mortgage debt poses an economic stability risk to Australia.
Melburnians flee the city as COVID hits students and workers
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Melbourne experienced a 30 per cent collapse in the number of people relocating to the city from other parts of the country during the pandemic, while students and people of prime working age fled for regional Victoria.
New data from the Australian Bureau of Statistics show a net 7445 people left the Greater Melbourne area through the September quarter, more than three in five of them moving to a regional bolthole.
Melbourne CBD was empty during lockdown, contributing to people moving away to find work.
Credit:Wayne Taylor