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Might be a bit more room for Sydney to outperform Brisbane before it turns...

I reckon it would be worth getting out before the end of June if that surcharge is coming in from July 1st, especially if the site is marketable to foreign investors. It's only 3%, but may be enough to drive more foreign investment out of Melbourne into Sydney (or elsewhere).

Was the first random link I found when googling for the news (recalled reading about it in the MSM)... so you think they will reverse it before it comes into effect, despite it having been announced less than a month ago? Seems unlikely?

Could turn back up, but Residex shows growth has been slowing in Melbourne: Kinda seems like this has the potential to slow things further from July... http://www.shinewing.com.au/news-and-publications/2015-federal-budget-property-insights/

Last drinks :D From: http://www.corelogic.com.au/research/capital-markets-report.html