Its a combination of location and limited houses that lifts price. If you build 100 homes and then lure 200 people to a promise of a better life you will never have enough houses. In Sydney, first we lure them in then we build the houses its an even better system as you are able support shit rental property at the same time. Who cares about water, traffic and high prices, that is until the new arrivals work out they are simply lifting the life style of those exsiting and sacrificing theirs. A ponzi scheme make a few wealthy the rest poor so what is Sydney's property market doing? Its a ponzi scheme the more you lure in, the higher it goes for some.
