Just consider this for a moment: According to the Reserve Bank, it’s likely “housing supply has for a number of years been running ahead of what would normally be thought of as trends in demand”.
It looks like the laws of supply and demand have been repealed, capitalism has been upended and there are indeed faeries at the bottom of the garden – it simply doesn’t make sense that prices have been skyrocketing across the board if supply has been running ahead of demand.
