Great reading guys, I must say this is the most interesting...

Great reading guys, I must say this is the most interesting forum I have read on HC for some time.

Agree with peoples sentiments that property prices are over priced, however the wealth accumulation from the fantastic share run of the past 5 years and the previous housing boom has put us where we are today. We are our own worst enemy.

Personally I believe property in the right suburbs will continue to perform at a strong pace, its the poorer suburbs and outer suburbs which will have major problems, just look at places like kellyville in Sydney at present., OUCH!

The other factor which will keep Sydney and other major cities in Australia bubbling along is migration. The ratio to amount of newcomers coming to our land, compared to the amount of new housing going up is ridiculous. We have no where to house all these people we are letting in.

IMO if the government wants to solve this issue it needs to build new satellite cities out west, eg: Bathurst, orang , etc and provide big businesses huge subsides and incentives to move their operations. This would create new work opportunities and more space for housing, will take the load of sydney for a while.