this post was submitted on 28 Aug 2023
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The federal government thinks it might be. Real Estate Institute of Australia denies it.

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[โ€“] [email protected] 1 points 1 year ago* (last edited 1 year ago) (5 children)

It's not the only reason. There is no one reason.

Off the top of my head:

  • Pension changes driving some boomers to nest egg in property which drove up prices
  • Active destruction of public housing pushing more and more people into private housing which drove up prices
  • Tax incentives encouraging property speculation which drove up prices
  • Allowance of foreign purchase which encouraged landbanking and laundering and pushed up prices
  • New builds failing to keep pace with increase in population limiting availability and pushing up prices
  • Volume builders land squatting and releasing less than required to maintain artificial scarcity and push up prices
  • Failure to decentralise employment hubs coupled with failure to increase density pushing more people into the same area, causing scarcity and driving up prices
[โ€“] [email protected] 1 points 1 year ago

Is there a bestof lemmy community? Because this comment wins ๐Ÿ†

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