Sydney always was insane for housing. Turned down a job offer there maybe 15 years back when I realised I'd need a 30% pay increase to break even, after viewing Sydney rentals exactly the way that girl did.

"Developers Margin" over 30% in Sydney, versus ~20% in Melbourne and Brisbane. That's a good proxy for political interference, obstruction and gate-keeping.

But everything in the above post is true, regardless. Government only planning for the next press conference, and that requires number-go-up. 

 You can’t have central planning with heavy gov intervention, and then have zero foresight amongst those leaders. Politics nowadays is just a mad dash to loot the treasury and hope the bubble doesn’t burst on your watch