It is still my opinion that we have reached to zenith of the property market (at least in WA).
More properties are coming on to the market in an endeavour to achieve a perceived top price. Many of these are failing to attract offers and therefore, I can see the market moving sideways before a dip of maybe 10% over the next 12 months.
If interest rates do rise over that period, that will reinforce my perceptions.
Property prices never continue to rise inexorably. There is always a slow down usually accompanied by a long hangover involving a correction.
I believe this will occur nationally over the coming 12 -18 months.
