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Agreed! It's just the same with a few subtle differences as technology gets better.

Because the people here are seasoned investors, unlike those in your office or church.

It has nothing to do with lending practice. It is all to do with supply & demand. If the demand isn't there, for whatever reason, then the prices will adjust down. The reason prices are as high as they are right now is because there is an increase in demand. As long as that demand is...

So, you buy something for $600-800K, and you pay a ****load of Stamps to get into the market. What will you do if the market turns before you sell? The madness, of course, will stop at some point. I'm not willing to be caught with my pants down, so I'm not buying into Sydney at the moment.

I can't tell you what is happening in the City, or the Eastern Suburbs, but I can tell you that out here, in the West, it is white hot. Standing room only at the opens, huge numbers of offers being placed on the one home. Little stock on the market & sold straight away. We've sold two...