$!.6m to $1.2m is exactly a drop of 25%, not roughly 20%. This...

$!.6m to $1.2m is exactly a drop of 25%, not roughly 20%. This still does not represent a price fall as $1.6m might have been a silly ambit, plus if as you say two years ago it would have sold for $450k then it surely was an ambit as is the $1.2m

Recent data does not indicate a general property price decline and indeed prices have continued to rise in some locations. Whilst there have been some noticeable declines in specific pockets such as South Sydney and the Zetland area of Sydney plus Melbourn docklands, these have been spec. investment units. These units had been pverpriced to begin with and in some instances of inferior quality.