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.