Hi I am seeing that Sydney is looking cheap compared to other states in terms of property prices. Even a global scale you can buy houses within 40 klms of the Sydney CBD for less than 400k. Even Melbourne, Adelaide, and Brisbane look cheap when you go out 30-40 klms. I know that Gen Y don't like living in their suburbs but as they age they will change their expeactations just like my generation (Gen X) did. This along with high immigration, high birth rates (need for a backyard for kids), and an endemic structural planning issue which both the state and federal governments are failing to address is going to cause the lack of supply and thus the Mother of All Booms. The article below also support some of what I am saying... http://www.news.com.au/money/proper...ery-reserve-bank/story-e6frfmd0-1225838977173 So...what happens once this booms happens....just make sure you are not holding the can in 2014-2015.. Would love to hear other views.