Australian Property Journal –
HOME buyers purchasing a new apartment in Sydney are paying $355,000 more or a 68% premium – significantly higher than 20% in Melbourne and 2% in Brisbane – due to planning restrictions, according to a Reserve Bank research paper.
The RBA’s discussion paper, The Apartment Shortage authored by Keaton Jenner and Peter Tulip, found there was about 10% difference in construction and supply costs between Sydney, Melbourne, and Brisbane.