benny i think what you have said is what is being reflected accross property markets across australia. the problem as you highlighted is the few that are forced or alternatively in need of refurb that have then been used as a basis for 30-40% falls everywhere.
I also would assume that prpoerty turnover in your area would have also dreid up significantly, while numbers for sale have increased actually sales have proably reduced some what.
If people can, due to lower interest rates, able to keep their homes then, the wholesale carnage expereinced in the US will not evenuate to some posters here are adamant it will.
