While home values have steadily retreated from their pandemic peak in recent months, they remain at near-record highs, posing an ongoing challenge for many Australians who want to own their own home.
In the September quarter of last year the national average home price sat at $889,800, data from the Australian Bureau of Statistics shows – 33% higher than in September 2019 ($668,800).
Joey Moloney, a senior associate at the Grattan Institute, says that the affordability of housing in Australia has been deteriorating for years though.
