I think this has been on the cards for somne time. The governments first home buyers grant over inflated prices and loads of overseas investers entered the market while housing in their countries melted down.
Time for a reality check, just need interest rates to rise and the economy to stall and cause a few job losses and it will be the perfect storm.
I am on the Gold Coast and have been keeping a close eye on things and its very slow, prices are dropping and more property is coming into the market at lower prices.
Just need some more momentum and no-one will want to be the biggest fool.
