Australian real estate is in demand, at least in the lower price range in Sydney NSW -

Strong demand for the cheaper more affordable residential homes is prompting buyers to pay tens of thousands of dollars more than the advertised listing price on websites and has even sparked a punch-up at an auction in Sydney’s Parramatta.

Turnover in the middle to lower end of the market has doubled for many real estate agencies in recent weeks, are we starting to see the start of a new real estate bubble?

Agencies previously focused on more highly priced property have expanded into the less expensive mortgage belts in Sydney and Melbourne’s west to cash in on the increased demand, as sales in the top end have slowed during the global financial crisis.