The Elephant in the Room
The property podcast for the thinking person.

Episodes

Episode 380: Diana Mousina on Why Property Is Australia’s Economic Backbone

What role does property truly play in shaping Australia’s economic story? In today's episode, we sit down with Diana Mousina, Senior Economist at AMP, to unpack why property plays such a central role in Australia’s economic landscape. Diana brings a sharp, accessible take on the macro forces at play, both locally and globally, and helps us make sense of how the housing market ended up where it is today.

We explore the persistent housing undersupply across the country, how population growth and household formation trends feed into demand, and why supply still hasn’t kept pace. Diana talks us through the long-term structural issues: from planning and regulation to developer incentives, and explains why there’s no single lever that can fix affordability on its own.

We also touch on broader economic dynamics: what slower productivity growth means for Australia, how inflation is likely to behave in the coming years, and why the push for government intervention has fundamentally changed post-pandemic.

If you’ve been trying to make sense of property prices, population pressures, or policy decisions and how they all connect, this conversation offers clarity and context. It’s a grounded look at what’s really driving the housing market and what might shape its future, so tune in and let's get started!

Episode Highlights:

00:00 - Introduction

00:57 - Who is Diana Mousina?

01:34 - Why Diana’s economic content resonates

02:43 - Will the Trump administration really impact the Australian property market?

04:52 - What’s behind the housing supply crisis?

06:20 - The demand dilemma and oversupply myth

10:49 - What’s the economic fallout of Australia's housing problem?

14:24 - How instrumental is Victoria’s oversupply to their current state of affairs?

16:13 - When is it useful to consider Australia as one market versus dozens?

18:11 - Can we just cut migration to fix the housing problem?

21:09 - Why does Australia obsess over economic growth? Is it really that necessary?

27:03 -  Australia’s long-term economic outlook

30:01 - Do you think recession is a real risk for Australia?

32:19 - What’s really happening with inflation?

37:05 - Has the post-pandemic economy outgrown old benchmarks like the RBA's inflation target?

39:12 - Will the upcoming election shift housing policy?

41:21 - Diana Mousina’s property dumbo

About Our Guest:

Diana Mousina is the Deputy Chief Economist at AMP, where she leads macroeconomic research and market analysis to guide investment strategy. With a Bachelor of Commerce and a Master of Finance from the University of New South Wales, she brings over a decade of experience in economic forecasting, funds management, and public commentary. Diana is known for her clear, engaging approach to complex topics, often using pop culture references and social media—especially TikTok and LinkedIn—to make economics accessible and relatable. Her work has made her a recognizable voice in Australia’s economic landscape, particularly around housing, inflation, and policy trends.

Connect with Diana Mousina:

Resources:

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Chris Bates