Household consumption of housing in Australia peaked in 2017 at 18.32 units of net disposable income but has been on a steady decline since then, standing at 16.32 units in 2023. The year-on-year variations have shown consistent decreases, particularly notable from 2019 onwards, with significant drops of 2.95% in 2019 and 3.33% in 2020. Over the last five years, the compound annual growth rate (CAGR) for household consumption of housing is -2.13%, highlighting a downward trend.
Forecasts indicate continued declines, with the household consumption of housing expected to reach 15.8 units by 2028, representing a forecasted 5-year CAGR of -0.45%. Future trends to watch for include potential impacts of economic factors such as housing affordability, interest rate changes, and government housing policies, which could influence the trajectory of household consumption rates in Australia.
