More than 40% of the world’s passenger vehicles are imported, but Australia is the world leader in the number of commercial transport vehicles it sells, with around 2.3 million.
But the number is only part of the story.
Australia is also the second-most expensive country to buy a home, after Japan, with a price tag of $2.2 million.
That means buying a home in Australia is expensive but it is not a guaranteed option, even for the super rich.
In a bid to lower its house prices, Australia introduced a series of measures, including the introduction of a property tax and an interest-free loan scheme, to ease the pressure on first-time buyers.
There is no doubt that Australia’s house price boom has helped to lift the economy.
“I think there’s a little bit of a disconnect between how much of an impact we’ve had on prices and how much the country is doing with the housing crisis,” Andrew Forrest, head of home investment at PwC, told the ABC.
The government is now looking to the private sector to supply more affordable housing.
And the Australian Institute of Directors has warned the government will be hard-pressed to keep up with demand.