So the article says that Sydney is just 'catching up' to other places like Melb and Perth..and you say that perth is an anomaly, the reason perth went berserk was due to the flow of money going there and pushing up incomes, it has the highest income per capita of the states/cities from memory. This would explain the increased 'affordability' and a large contributor to the price rise.
Now, that was the past..lets look at now and the environment at this point in time..Perth is set for a correction or is in the midst of one..Sydney and to a lesser extent Melb 'boomin'..have incomes risen to keep in line with price rise? Strong flow of capital into those markets from foreigners, though small in comparison to what was flowing into Perth during the mining boom.
If Sydney is chasing Perth, it soon may have to chase it down..plenty of buying ops in time..so when's the selling opportunities?
