People don't invest where there is no gain to be had, no matter how many tax concessions are offered. People are buying in Sydney and Melbourne because they can see over the next 20 or 30 years, inner city properties in those two cities will become entirely unaffordable to the average person so getting in now is a once in a life time opportunity. I would suggest that there is currently quite a bit of future growth already priced in, much like the way stocks are priced based on future expectations. All built around the immigration ponzi.
