Graph 4  Household Net Saving Rate Quarterly %  %  20  20  15  15  10  10  5  5  0  0  -5  1996  2001  2006  2011  2016  -5 2021  Sources: ABS; RBA  Household balance sheets have also been affected by the recent rise in housing prices.
This rise has been a nationwide development, but was first seen in parts of regional Australia, with price gains in many areas outstripping those in the capital cities. (Graph 5). Global factors, including low interest rates, have played a role here.