australia's housing bubble deflating

Property market slumps for the first time in 17 months
30/07/2010

Australia's property market is cooling off after house values in capital cities slumped for the first time in 17 months.

http://money.ninemsn.com.au/article.aspx?id=7937451

Australia's housing bubble is starting to deflate for the first time since 2008. Only this time the government won't be able to ease the deflation since artificial stimulus post-GFC merely brought forward demand and lured the final and most marginal buyers into the housing market - right near its peak. Recent housing finance figures, and now house price depreciation, confirm that the housing deflationary trend is set.