It is difficult to find good real estate in Perth if you want to be by the coast or near the river or city. When you find something its a delusion to think that if the median price is xyz we will pick up a bargain. Maybe a house at that value will not suit you and invariably you pay a bit more. Prices have dropped but in the good areas what is a 3 month period / 12 month period anyway in assessing true value. You no doubt have the lifestyle you wish.
The entry and exit costs are horrendous and do add a few years to repaying. The good thing is that the majority of the cashed up welcome migrants seek these lifestyle areas. The anomoly with Perth is that there is a lot of money around, migrants coming in by the planeload and things have stagnated. We are seeing a correction but not a large one Before 2 to 3 years is over it will correct itself provided the resources boom continues - everything points to that being the case.
