Australian housing wealth increase expected to continue in 2022

MIJ GIBSON JAN 08, 2021

The Australian Bureau of Statistics (ABS) data showed that the total value of Australia’s housing hit an all-time high of $9.26 trillion in 2021 with the total net worth of household wealth rising by $590 billion. This was an all-time high of $13.92 trillion in the September 2021 quarter. A 20.2% jump on the previous year.

Many homeowners also accumulated substantial equity gains.

This wealth increase is expected to continue to drive a strong economic recovery in 2022 following the labour market’s quick recovery after the delta-virus low. The pace of price growth in 2022, however, is not expected to match 2021.