The cost of building to develop units or replace houses has risen dramatically as there are so many new costs now in the system, mostly govt inflicted. Add to council delays causing increased financing holding costs, legal requirements, issues etc and the money soon goes. If prices were ridiculous home builders would be cleaning up but you don't really see that. Check out AV Jennings share price :o
I know median house prices are high compared to salaries, but rents are rising so what's the alternative? The govt insists on huge third world immigration so right now we're maxed out. The market was very strong yesterday.
