Let's take quick 'shufty' in four short parts.
Part 3 - NSW Now Leads Building Work Done
And the inevitable corollary will be a record number of investors losing their hard-earned cash on dud new development investment properties.
Just as an infestation of cookery shows in Australia has paradoxically coincided with a record boom in the consumption of takeaway food, similarly the glut of TV renovation shows has not led to an equivalent uptick in major home renovations.
There have been many murmurings of a boom in renovation intentions but this is not to be evidenced here in the "Alterations & Additions" data, reflected by the moribund trend in the green line of the above chart.
Part 4 - Residential Building by State
With apartment construction hitting record heights there will also inevitably be a glut of new stock to be sold on by commission-hungry agents. Caveat emptor!
However, it must also be observed here that with unprecedented construction of attached dwelling stock set to take place through the 2-3 years ahead, particularly in Brisbane, Melbourne, Perth and Sydney, but also elsewhere, there will inevitably be some blood spilt down the track for a substantial number of today's purchasers of new and off-the-plan properties.
In this respect, with building approvals breaking record highs in 2014 - a glut of new supply being precisely the polar opposite of scarcity - and the price of new stock at sky high levels, it is therefore almost by definition the most risk-laden time to buy new property that we have yet seen.
Alas there will forever be some nailed on guaranteed winners from this phase of the construction cycle, including the developers who have long land-banked their own gains from key development sites, and the so-termed 'investment advisers' plundering thumping sales commissions on new stock.
Scant consolation to be found for those at the end of the food chain who lose out, though.