More expensive than it normally would have been during property booms.
Adelaide Auction clearance rate is somewhere between 75 and 80%, which points to 8-11% annual growth.
On top of that we are going to get supply of new properties killed by our talented Governments. Everything they do to "col property market" affects the home building. Home building is the "main" (and with the end of mining boom - the "only") engine of the economy.
Killing home building pushes economy closer to the brink which in turn forces RBA to lower rates, which in turn sparkles more demand for the property.
Thanks Tony and Joe.
This (in turn) makes property more attractive "assylum" for the billions of dollars that Chinese have to park somewhere to avoid their home troubles:
When you own the home, you have only good news.