SENTIMENT has changed IMO folks and that's the critical issue here.
Looking at several suburbs of interest here in Perth, I'm seeing an increasing number of properties coming onto the market now that the Christmas/New Year break is done and dusted. Along with this increase of stock, the properties just aren't selling compared to as recent as September/October last year when at least properties were selling.
As the numbers for sale increase, the more desperate some will become to sell for a variety of reasons. This is when the snowball effect may indeed really kick in and we'll possibly see a genuine unwinding of our residential property like never before?
Anyone who it not at least open to the prospect of a serious decline in prices is dillusional IMO.
