I have no idea when the best time to buy something on the peninsula would be. Having said that I have been looking at props in Tootgarook for while and would conclude that prices there have taken a dive. I went to an open house on sunday, it was one street back from the beach on about 1000sq meter block. Asking 450k taking all offers, must sell. I was told an offer of 270k was on the table and at this stage you would probably secure the property for low 300's. Seems to be a bit of that going on around that area at the moment. I would have put a value on that house around 360 - 380 at the top of the market.
I listed my house in Blairgowrie back in March at a price the agent suggested. I have slowly brought the asking price back, now around 25% less than the the original asking price. There's been a steady interest in the property, around 2-4people looking at it a week. We're often getting offers 20 - 30% less than what we're asking. We currently have two serious buyers but they are dependeant on selling other props to buy ours.
Keeping all that in mind, some houses still seem to be getting a good dollar but nothing like the buying frenzy of the past few years.
