Why? Because the clear implication thereof is that the reason dwelling supply in Sydney was so weak from 2004 onwards has been that constructing infill apartment developments has not been commercially viable due to the associated prohibitive cost.
Dwelling approvals in Sydney collapsed by more than 50% for their peak during the price boom.
It will take some time, but dwelling prices will eventually ease and approvals drop back again, as the sequence continues.
How will this play out?