Definitely some serious downside action happening here in WA. But appears to be restricted to particular price range expectations and suburbs only. Have a pretty much nonexistent auction market here so things are more straight forward to follow. Employment so strong that it is hard to think it will get too bad. However, once investors start taking losses things could spread like a virus. Particularly if the exchange rate starts biting at employment, which it will almost certainly do if it stays as it is. On the flip side renting here is becoming far more expensive, so another argument that prices won?t go down the tubes as yields will attract investors. It?s not the end of the world just yet. Appears it will be a long slow death. I am waiting patiently on the sidelines like a vulture, hope I eventually get a feed.
