Steve, your measurement is correct, however the Government is terrified of property crash and will change laws eg increase sales to OS investors and throw your (taxpayer) money at the property market if it starts to look dicey. Don't underestimate the Real Estate and the Construction lobby groups.
The government does not care about the average family that is steadily having its quality of life stripped away by the ever increasing proportion of household income needing to be devoted to servicing a bloated mortgage or rent for simply providing one of life's essential needs.
Sure it will slowly kill Australia's wage competiveness which is already happening, but the Government just wants to be re-elected, and that can happen if the wage competiveness falls but cant happen if there is a property crash.
