If the essence of your post Menta is that, "It is too good to be...

If the essence of your post Menta is that, "It is too good to be true" - Gains in real estate prices I mean - then I agree.

I've been saying it for probably 1.5 to 2 years now. Something has to give. In a country as big and underpopulated at Australia there is no reason for a housing shortage. I don't buy immigration pressure as a key driver of increasing prices (Fingers crossed that reference doesn't start a racism debate).

Maybe the sheer rate and extent of the bubble is preventing land sales at realistic prices, thus hindering development and therefore creating more pressure on existing dwellings / developments...? A vicious circle?
Maybe the incredible demand for bottom end dwellings has become so rampant that the artificial price inflation of low -end properties is gonna eat itself!

I dunno. It's BS what is happening. I Bought a very modest home in Melb (Bentleigh East for those who know the area) for 300k about 6 years ago. This-morning I went to an auction over the road for a similar home on smaller land and it went for 905k!! I just can't believe it. It's insane. And buyers are shelling out these prices without fear of a collapse in the market.

On one hand I wish I could join in but on the other, "Exactly when is the sky going to fall?"

I'm so confused.