Auction clearance are up and away in Sydney, as stock and volumes remain low.
Via the Twitter:
Human nature dictates that people tend to focus on the here and now and the absorption of the apartment overhang.
What the Reserve Bank has recognised is that we're now heading for an undersupply of dwellings again since it's become so darned hard to finance new development.
From this week's Standing Committee in the House or Reps, here's RBA Governor Lowe:
Source: Australian Parliament
Whether supply can pick up again as the housing market lifts will be one to watch.
While population growth has surged to well over 400,000 per annum - mostly pumping into the capital cities - building approvals fell to the lowest level in six years in June.
Many of the apartment projects in the pipeline are either stalling or will fail to complete as some development businesses face insolvency.
