These people are called sheep; one lines up and everyone follows. Like a coffee shop where you see so many people waiting for their coffee. Do they actually enjoy that much or just like standing there like the rest and get noticed like they are part of something.
Speaking about this with my work mates now in the office who all live out west. They gave me an example of a couple who bought here 2 years ago, sold after 6 months and rented in the city. They spent 1.5 hrs each way travelling to work, paid 60 bucks each a week on bus and train fare.
I guess my point is that some of these buyers paying and lining up for such overpriced land out west don't take into consideration the way of life, travel to work time and costs to also build after buying the land. They just like the idea of having land, build and having dream home. I guess there is nothing wrong with chasing the dream on having a brand new house, but please also consider other factors before committing and not just following everyone else.
If the so called bubble pops, the ones out west will get hit first.
I dont think the people who were lining up for 3 days to get their block of land for 3 days are sheep. They are probably people who want to live in the area really badly. It takes alot of patience to wait 3 days for a block of land and commitment and to label them sheep is probably a bit over the top. I agree the prices in nor west area are too high but its like the whole sydney market at the momment and they will not be the first people hit when or if the bubble bursts. The people who are paying 1million plus for terrace houses closer to the city will be the ones hit hardest first