The office-to-residential conversion argument is correct about the problem and wrong about the scale of the answer. Sydney's commercial tower stock is genuinely underused.
Sydney's late-night economy is the most successful it has been in years, and almost nobody in the argument about it lives in the places it happens.
Median house prices now sit at approximately fifteen times median household income, a ratio that places Sydney among the most unaffordable cities globally.
Australia's population has reached 27.7 million. The figure, confirmed by the Australian Bureau of Statistics, arrives without fanfare but with consequences.
The timing is not coincidental, and it exposes the gap between the political rhetoric of housing supply and the structural reality of delivering it.
There is a pattern in NSW politics that has become impossible to ignore. A crisis is declared, a deadline is set, and a suite of reforms is rushed.
In return, it secures fixed annual entitlements closer to the city, guaranteed for twenty years regardless of conditions in the source dams.
