Any professional property investor knows of the phenomenon called "an opinion lag".
If media claims that "market is flat" - this most likely mean market is on the rise.
If media claims market is booming - means bargains have already disappeared.
Interesting one about Morphett Vale.
99% of what is said there is just pointless shaking of the air. The article shall really bear one line:
"Investors got priced out of Sydney and Melbourne and have come to Adelaide to chase rental return."
From myself I would add - that there are two classes of property investors:
1. Worshipping false God of "positive cash flow" - that is - rent to cover all the outgoings.
2. Worshipping true God of profit - seeking "total return" - from both rental and capital growth.
The difference between the two - the second class is capable of using calculator. "Capital growth dollar" is much heavier than "rental dollar" - because of taxation issues.
Morphett Vale is attacked by "positive cash flow type", and this wave would last until price growth will kill rental return.
For the average Joe Blogg the message is on the wall in 6 foot high letters - "Do not waste time renting. Rush to buy while you still can afford it".