Yeah, you could say that, especially around Sydney and MelbourneWhat are housing prices in Australia? Are they a bit overpriced like they are in America at this point in time?
A dilapidated one-bedroom home that has a hole in the ceiling and hasn't been maintained for more than 50 years becomes one of the most expensive properties for its size in the Harbour City.
Added to that the growing number of defective apartments being built where the liability is dumped immediately on the new owner once they take ownership, as well as the banks going gangbusters loaning money out to anyone at record low interest rates (still can't get $150 grand for some land up near QLD for some bizarre reason). It's a flow on effect. People who can't afford Sydney or Melbourne are flocking to QLD and TAS, driving up prices and putting strains on the system in those states.
Yet somehow the new NSW government leader still says we need 2 million more migrants a year for reasons (to keep the housing market ponzi scheme going still)
At least in the US, you have a lot more habitable land.