australia's very own subprime crisis looming, page-196

If you bought in Sydney in the last few years you will be sitting on some nice returns- up 12.6 percent from the previous peak. But to be honest many of the other cities haven't really done that well since their previous peaks. Perth and Melbourne are up about 2.5 percent since the 2010 peak. Adelaide and Brisbane are in negative territory with Brissie down a hefty 7.9 and Adelaide 2.5.

Obviously there are markets within markets and the people that bought in the last 18 months will have done very well in general. This is true also of the sharemarket especially if you've avoided stupid spec stocks. And if your buying to live in then it doesn't really matter what the price does as long as you can afford the mortgage. I'm so glad I don't live in Sydney though- the market there just seems insane and if I was having a punt at picking the top i reckon I'd be selling about now.