Equity Mates Investing Podcast How is Australia actually going? Housing, Productivity & the Economy with Diana Mousina
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Feb 23, 2026 Diana Mousina, Deputy Chief Economist at AMP who explains economics to the public, breaks down Australia’s housing squeeze, why households feel stretched despite decent data, and the role of productivity and wages. Short takes on immigration-driven housing shortfalls, first-home buyer effects, inflation measures, and where markets and rates might head next.
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Australian Consumer Is Holding Up But Split By Age
- The Australian consumer is mixed but broadly holding up despite recent rate rises and high inflation.
- Retirees and older Australians benefited from strong asset returns and higher savings, while younger cohorts struggle with housing access and wage-inflation gaps.
Housing Shortage Is The Core Problem Driving Prices
- Australia's housing crisis is primarily a chronic undersupply problem made worse by high immigration and a decade of underbuilding.
- Building fell well short of demand (about 175k homes vs ~240k needed), pushing prices up especially in Perth, Adelaide and Brisbane.
Aim For Price Growth In Line With Incomes
- Stop chasing a return to past affordability; aim to prevent further unaffordability by aligning price growth with incomes.
- A realistic best case is house prices rising ~3% pa so housing stops getting more out of reach.