Empty-nesters locked up with their money

The perverse incentives keeping retirees in large homes have led to a hugely distorted housing market. Eventually the government will need to take action.

The still-booming house price figures released by RP Data yesterday will be welcomed by the thousands of investors who have piled into the market in past months.

The survey showed prices up 4.2 per cent nationally in the three months to August, with Melbourne at 6.4 per cent and Sydney at 5 per cent.

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