This thread seems to be full of opposing opinions quoting heaps of stats to try justify a particular point of view. Everybody is correct because you are all part of the market. Just like opinion influences the share market, same thing happens with property.

Just because some postings seem negative does not mean they need to be attacked with heaps of positive quotes and stats. Property in Australia is overpriced in many areas (regardless of whether your nurse sister or friend teacher managed to buy one) but the fact remains, people are still buying them . I'm a migrant here (South African) after living in London for 9 years I moved here 2 years ago with my Australian wife.

Somebody above said 'everyone wants to live here, so you have to pay to live in paradise' – that’s the kind of opinions news papers love. I'm certain it’s not paradise!!! I see many problems Australia has created for itself that locals don’t see. I still have an apartment in Australia and one in Cape Town so I get to see how different markets work. Fact is, I like the Australian property market. I have property here and will continue to invest in it. It may stagnate but not sure we will see major corrections and time soon (I was there listening to Harry Dent). He understands the numbers but not sure he gets the market here. Supply and demand will continue to drive property for a long  time yet. The Australian gov does not seem to want to intervene and do anything drastic at all to make cheaper housing. In South Africa they are now forcing developers to create "affordable housing" in any new prime golf estate developments. Defeats the purpose of a golf estate don’t you think? You should hear the moaning

Anyway – one more opinion for you to mull over … don’t hate