on a side note here in sydney (sutherland shire area} i have noticed the lower end of the market ie 2br apartments older style are selling relatively easily(3-470k price range).
Speaking to a few work colleagues(20-25yo) about property and the anticipated drop in values, the first thing they say is "property prices will never go down" and "im going to buy my first property asap when i get the deposit"
It will be interesting to revisit prices and peoples thoughts in 12months time.
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