Policy adjustments have played a crucial role in shaping the Australian real estate market. The government has implemented a series of measures including lowering interest rates, easing mortgage conditions, and providing homebuyer subsidies to stimulate the real estate market. These policies have encouraged more people to purchase homes and contributed to price increases.

Economic factors have also had a profound impact on the real estate market. With steady economic growth and a stable job market, more people have the ability to purchase homes. Additionally, the low-interest-rate environment has made homeownership relatively affordable, attracting more investors and buyers to enter the market.

Internet

Changes in demographic structure have also affected the Australian real estate market. With an increase in immigration numbers, pressure on housing demand has continued to rise. Particularly in popular cities like Sydney and Melbourne, rapid population growth has led to housing supply constraints, driving up prices.

Supply-side issues in the real estate market are also contributing to price increases. The construction of new homes has been relatively slow, with supply chain constraints and labor shortages leading to insufficient new housing supply. This has limited choices for homebuyers and fueled price hikes.

Internet

In some cities, prices of luxury homes and high-end apartments have also surged. This is partly due to increased demand from the affluent class for luxury residences and investment properties. However, this has also sparked some social concerns, calling for zoning reforms to reverse the trend of "mansion protection zones" and better meet the housing needs of middle and low-income families.

Furthermore, some local governments have taken measures to address housing supply issues. For example, the City of Melbourne has proposed raising the vacant property tax rate to encourage property owners to rent out vacant homes or use them for affordable housing. While this proposal has sparked controversy, it underscores the attention to affordable housing supply.