Everybody wants to write off Perth, but it is not as bad as some make out. The so called massive number of properties for sale is overstated. REIWA listings are about 13,000 which is about balanced. Unemployment is still one of the lowest in the country, GDP still way up there. What has happened is the normal human cycle. The good times will last forever so lets build, buy and spend it all. When things slow down, ah it's the end crash all is lost sell, sell. 600ml links make great reading, lot of things going on and not all housing. Long term I am very bullish on the West never stand between a West Australian and money we are very pushy. The cycle will turn again and expansion will occur. People forget Perth is only small so only needs a small increase in building to push into oversupply. Likewise does not take much to fire up again.
