Dave I dont know Perth so i cant comment but in Brisbane and SYDNEY Large prices are still being achieved .I dont know if it is inherited money or overseas buyers but some amazing prices are being achieved in certain surburbs ,the law of supply and demand i guess .Personally i think these prices are crazy ,heres an example in Cheltenham Sydney 20k from the CBD A LATE 4O'S cavity brick 3br home recently sold for M$1.2 it was demolished a few weeks later and a new home is to be built there ,the land size is 1000sq/
