Housing finance soaring
Stock levels remain muffled
At the present time vacancy rates in Sydney remain significantly lower than where they were in 2004 at the end of the preceding boom period.
Nationally, building approvals have smashed an all-time record high at more than 200,000 on a rolling annual basis. Of these, Greater Sydney has approved 25,440 units and 13,337 houses in the past 12 months.
It has been estimated that Sydney needs some 130,000 new dwellings. I'm not so sure about that, but I do know that it will take more than a few strong months of building approvals to redress an imbalance which was nearly a decade in the making.
Dwelling prices rising