As house prices rise far faster than incomes, it is behavioural economics at work, rather than the traditional economics learnt at university. It is obvious home buyers are mostly looking for detached dwellings, rather than apartments, which is leading to a fundamental mismatch of supply and demand that is sending prices higher. A lot of people are looking to go into bigger places; it s a bit of a COVID impact, Westpac boss Peter King recently noted. This Randwick home sold for a suburb record $8.5m. More often than not, it is the locals who are the ones pushing the prices up, sometimes going head to head against expatriates who yearn for the homeland as they see how Australia has managed the pandemic.
Why Sydney prices are really spiking
dailymercury.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymercury.com.au Daily Mail and Mail on Sunday newspapers.
Why Sydney prices are really spiking
byronnews.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from byronnews.com.au Daily Mail and Mail on Sunday newspapers.
Why Sydney prices are really spiking
frasercoastchronicle.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from frasercoastchronicle.com.au Daily Mail and Mail on Sunday newspapers.
Why Sydney prices are really spiking
warwickdailynews.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from warwickdailynews.com.au Daily Mail and Mail on Sunday newspapers.