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The Sydney Morning Domain has posted an article today, which nicely encapsulates how unresponsive land/housing supply and perceived shortages helps to drive speculation and “panic buying” in the housing market, lifting prices:
Desperate to get a slice of the Sydney property market, Sabir Hasbani camped out for three nights in front of a Stanhope Gardens real estate agency in Sydney’s north-west.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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