As a result the difference between inner and outer capital city prices grows ever wider, thus disproportionately benefiting homeowners and property investors who own real estate in the inner city suburbs.
In short, the prime location property located close to the CBD consistently outperformed everywhere - in every capital city.
There is also a generational shift at work, as Australians dig deep in their pockets to live in convenient locations.
And, thirdly, investors own a high proportion of inner city stock - and there are ever more investors in Australian property competing for a limited supply of prime land.
Site remediation costs in brownfill areas are becoming increasingly prohibitive to development as land prices increase and regulations more stringent.
Greenfield sites by comparison are very easy to develop and provide ready substitutability for outer suburban dwellings.
This has also proven to be true in every major capital city.
And not only by a small margin, but by a factor of many.