Of course it is.... It seems we have reached the peak of the market.
That is not the question.
The question is, will Sydney property all of sudden change from being a high demand product with a lack of support due to high price into a low demand product regardless of price?
I suspect it will remain the former, as it has for decades, but time will tell.
As per my previous comments, I expect a long stagnation period with price falls in non premium markets and the top end.
I note the Sydney economy is still screaming along with infrastructure projects running for at least another ten years and the lowest unemployment rate in the country.