Thanks 23. My position, presumably the case with many sellers, is that the late 2013 price growth has been interpreted as the start of a new cycle, but it is a false start. There was a stampede of buyers that followed hoping to get in at the bottom of that cycle and it did cause a sharp but unsustainable spike that has continued into 2014. My reason for that belief is that I can't justify what caused that spike - interest rates were already low, people were losing jobs not getting them, and people are earning less and borrowing less - these are the official figures.
Booz as for land - I have vested interests, but I believe a renaissance of rural Australia is coming and that future population growth will be in regional areas master planned to cope with it and affordable to the low to middle working class. Our future industries won't need 70 floor inner city towers, but they will need room to grow, and technology will support that shift.
I believe that there is far more future growth out of buying up development land on the outskirts of regional centres supported by current and emerging but sustainable industries than there is in buying a 2 bed townhouse for 800k within 10k of the CBD.
