Our market is very different to whats happening over east.... Head 30mins N/NE of Perth or 45mins S of Perth and you will the amount of vacant land available and ready to be sub-divided, not to mention the amount of bushland that could be cleared for construction.
You would need to travel several hours out of Sydney, for example, to find areas of similar size that is available.
Our building boom will surely continue as this area becomes available, and with the major rush at the moment, banks would be crazy to pump the interest rates coz it would inevitably drop the market on its ass....
Having both immediate family and lots of friends in the housing and real estate industry as well as speaking to numerous builders of the last 6mths, I am quite confident of building at the moment