Here's my take on the ABS demographic statistics

The ABS released its demographic statistics for the Sep-14 quarter. The increase in population over the past year was actually the lowest increase in national population over a year since the 12 months to December 2011. With population growth now showing a consistent slowdown since the end of 2012 and new housing supply showing a consistent increase since late 2011, the gap between housing supply and demand has significantly narrowed. It is reasonable to assume that higher supply levels and lower housing demand will eventually dampen the exuberant housing market conditions that are so evident in Sydney and to a lesser extent in Melbourne. It is important to note that to-date the supply-side response has been nowhere near as strong in Sydney as it has been across most other capital cities. Full article: (VIEW LINK)