On your last point with regard to the price correlation of city and regional unit prices: yes, quite puzzling if not for the supply dynamic. Particularly, given the same can't be said for stand-alone houses. If one looks at the NSW South coast (for example), units are comparable with the metro's, but one can still buy a 5/6 BR X 3 Bathroom home with spectacular sea views for circa $1.7 mill, but the same home in Syd/Melb would go for up to 5 X's that amount.
