On the nights of February 11, 12 and 13, 2020, the ABC has shown three related 15 minute pieces in its 7.30 Reports, on the subject of housing. These segments have stressed the cost of housing and the gulf that exists between those who are able to afford or who own their house, comparing the situation of people who cannot afford a house, and who are thus obliged to rent.
House prices are higher in Sydney and Melbourne than in almost all other developed-nation cities with the result that most young households cannot afford to buy a detached house. Why? Part of the explanation is a combination of generous tax benefits to investors and upgrading home owners. This has prompted massive investment in dwellings, but mostly in established detached housing.