Milesg Perth developers have been making a poultice by trickle feeding the market for the last four years.
It's not going to change any time soon, so the "artificial" land values become real.
I know of one major builder who, if he didn't sell another house for the next two years, would take that amount of time to complete the ones in his pipeline.
If it weren't for the sub-contractor system houses would be >50% dearer again to build.
Downside is obviously a lack of apprentices and an aging sub-contractor workforce. Ten years from now we'll pay the price unless something is done today.
Increase immigration, force builders to take on X amount of apprentices based on $turnover etc
And while we're at it fu*k off that daylight saving bullshi*
