Sydney's housing prices are falling down, falling down, falling down, page-34

Yeh vendors can take their properties off the market as well, plenty of Perth sellers having been doing so. But that does not stop the value or achievable price of their property declining, as those that remain on market will take what they can get.

If you look at what is driving the 'very strong' Sydney economy you might realize it is not sustainable, hence the very strong conditions are unlikely to be sustainable.

I expect something quite similar to Perth. Of course it wouldn't be exact similarities but it be pretty similar in most respects.