A mate of mine has been trying to sell his wife's investment property in Brisbane for about a year. It is a 2 bed house not far from the city. Got offered 540k 1year ago. They didn't take it and wanted 560. Now the agent is begging them to drop it to 440, he says they will not get any buyers unless they consider this price.
They will not consider dropping 100k on an offer that they had and figure they are not desperate yet and will hold on for better times. This place is in a populLar area, yet the price appears to have has fallen by almost 20%, much more than these official figures which seem to bear very little resemblance to realty.
