I think the shortage issue relates to not enough property in greater inner city suburbs.
The outer areas are never the issue....although over time some of those become more popular than their peers for various reasons, usually infastructure etc.
Due to lack of inner city living, the price goes up pushing not only it but all suburbs up.
If the demand for a certain product is high, the price goes up.
Lets say 100 people tasted jam for the first time.
Over the next few months 80 people wanted cottees jam and 20 were happy with the plain no brand jam.
The price of the cottees would go up in a higher proportion to the nobrand, meaning less than 80 could afford it.....pushing the price up of the no brand, which is no different to the property m,arket.
Becauee 100 new people now eat jam, the price of jam overall went up no matter what the brand.
So in this instance supply isnt exactly yht issue, its the fact one area/brand is in greater demand, which end result is it drags all prices up.
