The Real Estate Institute’s two biggest branches are speaking with two voices right now. The problem is while Melbourne continues on a boom, Sydney is still in a slump, and their reasons why are just as varied as the two cities’ auction results. Certainly at this rate, Melbourne prices will soon be nearly at Sydney levels. The overall impression for those in the industry is the recent sense of urgency among some buyers has now lessened with sanity returning to this vital market. Meanwhile, the Housing Industry Association (HIA) has joined the debate saying new home building continues to recover very slowly with nowhere near the numbers needed to stop fueling the present rate of house price increases.