This is why Sydney property prices are going up

Australian Broker – 

The slowdown in housing approvals is one of the biggest reasons why Sydney property prices are spiking, according to one of the leading experts in the field.

Tom Forrest, CEO of Urban Taskforce Australia, a peak body for property developers, has put the root cause of the spectacular rise in house prices in Sydney down to simple economics, rather than the oft-cited ‘perfect storm’ of low interest rates, pent-up pandemic demand and government intervention.

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