The OECD’s annual survey of Australia’s economy last week bluntly noted what most Australians understand very clearly – housing is expensive and in short supply.

The report highlighted issues with planning that restrict density in urban areas, but importantly it also noted the need to reform Australia’s tax system to stop favouring investors.

Housing affordability has for well over two decades now been a critical issue for Australians.

The OECD annual survey of Australia revealed that not only does the data support people’s feelings that housing is much less affordable than in the past, but that what is happening here is unique.

Since 1996, the ratio of house prices to annual income has risen around 97 per cent, compared to 20 per cent in the United States and 17 per cent across the entire OECD.

Canada, which has a similar land size and population to Australia compared to European nations such as Germany, the UK and Italy, has also had strong price rises. But these mostly came in the 2010s off the back of very low interest rates after the Global Financial Crisis and also a........

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