The chart shows the nominal median house prices in each of the capital cities in March 1980 and March 2016 in Australia. There has been a dramatic increase in housing prices since 1980. The house prices in 1980 were stable compared to prices in 2016. In Sydney the house prices has sky- rocketed to 1,000,000. In Melbourne, housing prices have increased for 17 times. In other cities like Adelaide, Perth and Canberra they have increased around 12 to 14 times compared to 1980.
In conclusion, the figures show that housing prices have been going up while the housing affordability has been going down.
