Dust has barely settled and people (IO/ OO) are betting on the house again. Some recent examples where I think there is overpayment: 2.1M for 5/3/2 in West Pennant Hills for 834 Sqm (no pool) https://www.realestate.com.au/sold/property-house-nsw-west+pennant+hills-132195446 New house on 834sqm so if the quality of the build was say 500k, is the land worth 1.6M? 1.73M for 5/3/3 in Kellyville for 751sqm (with pool) https://www.realestate.com.au/sold/property-house-nsw-kellyville-132039870 With the sparking pool and backyard entertainment and yard, and may be above average house. Together if this is worth 400M (given the age), is the land worth 1.33M? Agreed that loans are cheaper and increased borrowing capacity thanks to government intervention. Still is it worth overpaying this much? What am I missing? Please post in your replies.