Australia has been through a long period of uninterrupted economic growth over the past 15 years when the mortgage rate was halved. Everyone could afford to borrow money from banks. Secondly, the increasing immigration and the falling size of household average led to a higher demand for accommodation with increased purchasing power. With the additional purchasing power and the stable supply of housing, the housing price has been pushed up. Australia has experienced economic growth over the past 15 years. At that time, the mortgage rate was halved, and everyone could afford to borrow money. Therefore, people had a higher demand for accommodation. The reasons included the increasing immigration and the falling size of household average. In conclusion, with the additional purchasing power and the stable supply of housing, the housing price has been pushed up.