Australia's "property boom" was really a Sydney boom

The ABS released its Residential Property Price Indexes for Q2 2015. Although the data series is not the most timely, it is accordingly likely to be the most accurate. The figures confirmed that the so-termed "Australian property boom" has actually comprised an extraordinary boom in Sydney dwelling prices since December 2008, but much more muted price action elsewhere. The ABS series also provides some useful insights into the mounting supply response. (VIEW LINK)