Jazz it's called a cascading effect,
say in Melbourne I could afford beach front golden mile, suddenly I am priced out.
so now I have to move across beach road then the people who have been priced out of there move to Brighton East. Those priced out of there move out further, who out price those out further. Till stink ville in the middle of nowhere is all that's left.
While you see just a few buying high price property. I see it as the tip of the iceberg and Chinese are buying across the better suburbs of Sydney and Melbourne, moving those who would once live there outwards. Forcing property higher out pricing joe avg.
