Westpac now also finds NSW consumption to be on the up & up...
Stamp duty revenue was $744 million higher than forecast only in the June budget, a welcome boost to the kitty, no doubt, resulting in a tidy state surplus.
Road and rail projects galore in Greater Sydney with a new airport also in the pipeline.
$6.7 billion of "Restart NSW" funds are focused on the accelerated delivery of priority projects.
-a burst of property investors or speculation
-a media obsession with real estate
-low interest rates
-a "mania for home ownership"
-soaring population growth
-an economic boom
-a widely held belief that housing is a good investment
No oversupply there.
A perfect storm for Sydney? There are many unknowns. But it could be.
Why Will Rates be Cut?