I live in a block of flats in a suburb near North Sydney and one of the 2 bedroom flats like mine was sold for $695,000 AUD. It's completely ridiculous. (The flats are pretty bad quality)

Meanwhile a friend of mine just south of Newcastle bought a 3 Bedroom house with double garage & front and back yards for just around $400K... It's tempting to just start doing the commute with a difference like that