"In a lot of cases, the building is nearly sold out even before construction begins!"
That sounds quite ominous - reminiscent of the property bubble here in the UK prior to 2008 (which was completely insane, but very tame compared to Ireland).
Rental markets are still strong for landlords. Too many people wanting a place to live, and not enough stock to fulfil the demands. The local governments are speeding up the permit process, but it's going to take a long time to catch up. Plus public transit isn't the greatest, especially in the high growth areas (Inner West and further out). The politicians are not looking long-term and thus screwing the people closest to Sydney out of an easier commute.
Luckily I don't work in the Sydney CBD, so my commute is pretty easy. :)
That sounds quite ominous - reminiscent of the property bubble here in the UK prior to 2008 (which was completely insane, but very tame compared to Ireland).
How is the rental market holding up there?