This article might apply to Sydney and Melbourne but it doesn't apply to Perth. I saw a graph the other day showing the median in Perth was about 30 grand higher than it was 4 years ago- hardly a raging bubble.
People assume the end of the mining boom and falling dollar will be bad for Australian property prices. But in a service based economy and one that is helped by tourism much of the eastern states economy might improve. I don't hold such hopes for Perth however and have noticed certain areas are starting to have a tonne of stock on the market. I definitely would be waiting because i think in about 18 months many west aussies will be able to pick up a bargain.
