Shibboleth about house prices has just been shattered
Recent polling indicates a significant shift in Australian public sentiment regarding the housing market, with a majority now favoring lower house prices. This marks a departure from the long-standing political consensus that rising property values were essential for electoral success.
Why it matters
It signals a potential change in the political landscape where housing affordability concerns may outweigh the interests of property owners in policy-making.
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Share A A A It is – or was – the bedrock conventional wisdom of Australian politics.
As John Howard noted in a radio interview back in 2003, the nation’s voters want the value of their houses to keep going up and up and up.
In the early 2000s, John Howard’s view on higher house prices was on song with the community. But voters’ views of the property market have changed. The Age “Anybody who owns a house is very happy that the value of that house has gone up; let’s be quite straight about that,” he told Brisbane radio .
“I haven’t found anybody in 7½ years shake their fist at me and say, ‘Howard, I’m angry with you for letting the value of my house increase’.”
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