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I don't know what you are talking about. The mere fact that it's 'blue chip' and people like yourself want to buy into it provides the demand support already. These areas tend to have limited development due to their proximity to the CBD and zoning restrictions. Supply isn't going to increase....

So what if they are asset rich and cash poor? There are plenty of people who are both asset and cashflow rich looking to buy INTO that area....isn't the new purchasers the ones who dictate prices?

Definitely. You're kidding right? Let's just say that there will always be people like you with money who want to buy into these top suburbs even if that was the case. Plus people who buy into these areas aren't your typical PAYG income earners - we are talking CEOs / very successful...