RBA releases research into future property market

The Reserve Bank of Australia has released a detailed study into how the future of the Australian property market might be shaped by current and future economic factors.

Important elements covered included shifts in population density, adjustments in zoning policy, potential changes to transportation infrastructure and any other frictions that could impede housing development.

One of the main findings of the report is that the current policies and measures put in place by various departments around the country could need revising.

If they are left as they are, researchers say they may impact on the economy as a whole, with the original benefits outweighed by increasing economic frictions - a note that could be of interest to professionals with property training.

The research piece states: "While demand-side factors, especially changes in the cost and availability of finance, have clearly been very important in explaining developments in the Australian housing market over the past two decades, our results lend support to other work pointing to the role of structural factors in influencing housing market outcomes."

Authors Mariano Kulish, Anthony Richards and Christian Gillitzer have acknowledged that their model deliberately excludes a number of factors, but point out that the results have been in line with current real-world events.