All that would be true if there was no capacity to increase supply
there is certainly the capacity to increase supply in most capital cities in Australia
certainly no shortage of land, getting places built could be a problem but not one that can not be solved
I have a client importing light wieght concrette panel houses from china
a complete 3 brm house arrives in 2 containers and can be completely erected in about 2 weeks for a total cost of about $30K
the homes are not flash but they are not to bad either and far better than a bulldozer job fibro house that is probably selling for double the cost on of these homes would be worth including land if the government got serious about opening up more land.