For those shedding a tear over house prices falling, these numbers may change your mind

‘Since 1999, governments of all persuasions have attempted to fix the problem of housing affordability by making it worse.’ Photograph: Jessica Hromas/The Guardian

In the first three months of this year, house prices continued their previously inexorable climb, far outpacing incomes and wages growth. Now, thanks to changes to capital gain tax and negative gearing flagged in the budget, there is finally hope that housing affordability may improve. But after 26 years of damage, there is a long way to go.

The Australian Bureau of Statistics’ total value of dwellings survey always brings feelings of despair. In the March quarter, average dwelling prices across the nation increased 2.1% – well ahead of the 0.8% increase in average household disposable income. And the annual increase of 10.3% is again well ahead of the growth on incomes.