Agree with you , ozpolarbear , that property prices are at " nose bleed " levels , compared to our incomes ...
... the problem seems to be a supply/demand distortion , created by well intended ( but idiotic ) local councils restricting land supply for new developments ...
Hence , it's not the actual house construction which is wildly overpriced , but the small plot of land that it sits atop ...
... having said that , it is only with hindsight that any one of us will be clever enough to pick the exact moment and particular reason that the bubble burst ... and whether she collapsed spectacularly , or just fizzed slowly downwards over an extended period ...
