Yes I am ringing the bell in fact January 2012 marked the bottom of the Perth market. Before January there were still bargains around in all price brackets. With the rapid jump in rents the lower end came to life. Listings have been falling ever since. So why hasn't the median gone up. Simple, over 50% of the sales are in the under $500k bracket. The market over 1mil is flat and price discounts. The best buys at the moment are expensive properties, the under $500k is a sellers market. I will not make grand predictions but if you expect falls in Perth in next 6 months then you are not reading the market objectively.
