Sydney and Melbourne have some of the most expensive housing in the world. Recent research attributes these high prices to zoning restrictions. Defenders of these restrictions say they are needed to preserve neighbourhood character.
Dr Peter Tulip former RBA economist and chief economist at CIS discussed his CIS research on housing affordability in Sydney.
Peter Tulip is Chief Economist at the Centre for Independent Studies. He previously worked in the Research Department of the Reserve Bank of Australia and before that at the Federal Reserve Board of Governors, the OECD and Commonwealth Treasury. His recent research focuses on housing and monetary policy.