The New South Wales Government continues to cash in on the Sydney property bubble, where home prices have risen by around 35% in less than two years, according to RP Data (see next chart).
This rapid lift in housing prices has, of course, been driven by an unprecedented orgy of investor speculation, whose share of total finance commitments (excluding refinancings) hit a record 58.3% in the year to March, with no end in sight (see next chart).
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