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Sydney's 'crazy' housing market no mere craze

Homebuyers have little prospect of relief amid rising prices fed by record low interest rates and foreign capital

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Newly-completed apartment blocks in a Sydney inner-city suburb. While there has been a pick-up in the construction of apartments, new supply is only catching up with the rapid population growth after years of under-building.

Sydney

OUTLANDISH property prices make daily headlines in Sydney - a peeling 1900s three-bedder with no kitchen sink for A$2.6 million (S$2.68 million), a parking space in Kirribili for A$120,000 - and first-time buyers have little prospect of relief.

Home price growth in the...

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