I think one thing people need to embrace is that. Australia's economy is doing relatively well. We have a high standard of living making us very desirable. Australian immigration is like winning the golden ticket.
Our migrant rate is huge and despite his policy on boat people John Howard opened the flood gates to migrants. Putting huge pressures on infrastructure and housing. Couple this with high labor costs and you get our current housing market.
I've noticed there are many places, (except inner city melbourne,sydney and perth). where established houses sell for less then the cost of building a new house.
When you consider the time and hassle take to purchase land and build on it this doesn't make a lot of sense.
