Yes, some here have correctly asserted that if one adopts a...

Yes, some here have correctly asserted that if one adopts a basic view Australia is "sparsely populated." What they failed to mention, however, is that 85% of Australians choose to reside within 50kms of the coast. So Australia has one of the most centralised populations in the world-which has resulted in demand exceeding supply and strong price appreciation.

On that note, as there is presently very little freehold land in the CBDs of Australian cities, the example employed in the article that compares the price of inner city houses in Sydney with their counterparts in London, Paris and New York is both logical and valid and a well needed reality check for many young Australians that (perhaps due to the tyranny of distance) may sometimes forget that Australia is indeed part of the global market.