logo

Demand For Houses In Australia Report

   

Added on  2020-02-24

5 Pages548 Words51 Views
Running head: DEMAND AND SUPPLY OF HOMES IN AUSTRALIA 1Demand and Supply of Homes in AustraliaStudent’s nameProfessorCourseDate

DEMAND AND SUPPLY OF HOMES IN AUSTRALIA2Demand for Homes in AustraliaIn the recent years, the demand for homes in Australia has been on the increase. Studies show that the surging demand for houses in this country results from non-price factors. Foremost, major cities like Melbourne and Sydney are experiencing high population influx. As more individuals settle in these towns, the demand for homes has increased considerably. The rising demand for homes has also resulted from the low cost of borrowing for homes and improved access to credit. Moreover, increase in the incomes of Australians and tax concessions on housing have amplified the demand for homes in Australia. The rising demand has increased the price of homes and Australian cities like Sydney and Melbourne are among the places where the price of homes is exceedingly high globally[ CITATION Rae16 \l 1033 ]. Figure 1: Increase in Demand PriceNumber of housesThe rise in demand for dwellings in Australia’s housing market is shown by the shift of demand curve from D1 to D2. Consequently, the number of homes demanded increases from Q SP1PQ1QD2D1

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Article | Demand and Supply of Home in Australia - ECON 3008
|7
|1362
|73

Housing Affordability Crisis in Sydney and Melbourne
|10
|2208
|297

Economics Assignment: Market Price
|11
|1525
|49

Rising Land Price in Metropolitan Cities of Australia
|11
|2146
|93

Report on Australian Housing Market
|12
|2622
|184

Microeconomics and Australian Housing Market
|9
|2167
|148