This is a really interesting article by @AnyaMartin8 about the effect of densification policies in Sydney. It reminded me of stories I read several years ago about homeowners in Sydney selling up to developers so I decided to see if anything happened as a result ... https://twitter.com/AnyaMartin8/status/1358860445046734849

This is an example of the stories I mean. Eight homeowners on one road selling their houses for maybe 3 times the usual price so that a developer could build apartments on the site. https://www.afr.com/property/residential/residents-in-30m-bonanza-20140814-j82u0

The first pic below is what that stretch of road looked like in 2007. The second is what it looked like in 2019. Here's the Streetview link https://www.google.com/maps/@-33.7708038,151.0769709,3a,75y,117.45h,93.65t/data=!3m6!1e1!3m4!1sSvQDNFnZh4Jph6Qyjv5kzg!2e0!7i16384!8i8192

Here's another example around the corner. This time the images are from 2009 and 2019. https://www.google.co.uk/maps/@-33.7700989,151.0765671,3a,75y,282.41h,96.9t/data=!3m6!1e1!3m4!1ssJqRosR6pNBnwqvy13cCGQ!2e0!7i16384!8i8192

And here's a final example from about five minutes' walk away from the first two. 2013 vs 2020. https://www.google.com/maps/@-33.7691215,151.0835786,3a,75y,254.82h,108.73t/data=!3m7!1e1!3m5!1soFUVXIecjfdusJr-8OantA!2e0!5s20200901T000000!7i16384!8i8192

Looks like the price for new flats on this street averages a bit over $800,000, which is ~2/3 of the usual market value of the houses that previously occupied the site, but a much smaller fraction of the price that the house owners sold up to developers for.

So the density policy brought about an increase in the land value but lowered the price of entry to the neighbourhood and enabled a far larger number of people to live there, within walking distance of a train station.