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The chart shows the indices of a Sydney house (as the horizontal blue line) with the performance of all other capitals in comparison, the other capitals out perform (Sydney) over 2003 - 2007 and then have under performed since. If Sydney is to see a similar ratio to the other capitals as it's...

They almost look in lockstep over the last 10 years (timing perspective, with rate of growth being key difference). I agree there can be times where prices divorce from economic reality, but reality usually catches up. I don't think a boom in Adelaide is likely in the short term.

Dead cat bounce + a bit of a kick in the pants from lower interest rates + some out of state investors. Do you think that house prices are completely divorced from the economic conditions of their locale?

No, but I don't think the unemployment rate in SA has peaked yet (trending higher) and I think a price boom is unlikely with the existing weak economic conditions (which are likely to get worse before they get better). IMO best case is probably another year or two with prices grinding sideways...

Yep, we're gunna see the boom as soon as unemployment hits 8%, time to get on is right now!