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Shortage of listings. Good properties being sold within hours or a few days. Some agencies sacking staff - can't get enough listings to survive. People offering way overs to get property. (We are on one at present going to auction shortly. We valued at $310-320K, REA agrees, one desperate...

Yep, sold for $600K - 5 x bidders fighting over it! All the same, I still don't think we are anywhere near the overheated stage yet. But we are certainly in a full on rising market.

Jack, it really is predictable just like the appearance of: 1. Foreign economists predicting the Australian market is over-inflated 2. The newbies posting threads on "how high can prices go, if wages don't go up?" 3. The D&Gers start talking "bubble" 4. Overseas posters start posting charts...

Sydney is hot at present, there's no denying it. It has been since at least Dec '12. IMO there is plenty of steam in it yet for all of this year and all of next year at least. Demand does not dry up overnight with the low numbers of listings on the market. 6 months after Sydney moves, the...