I think the conversation almost has the crux of the issue. The issue is that no property is the same and with our 2 speed economy different regions have benefited and some have lost.
What have property prices done in Karatha or Port Headland or Mackay? Now there are inflated incomes in those areas and demand for residence therefore prices have risen since 07. Gold Coast (where I live actually) has been hit hard by the lack of tourism due largely to the high AUD. Obviously some people have left the area and there has been some massive over development here so lots of supply no demand currently. It is fair to say property prices are down I would say 20 - 30% on the Gold Coast on average since 2007. I own property (a house) here and I'm down at least 25%. My neighbours cant sell currently at a 20% loss so there is a big buy/sell spread here currently too. ie. The price at which you can buy and the price at which you can sell.
