We are undergoing a correction in the Perth housing market....

We are undergoing a correction in the Perth housing market. Prices have already dropped by a min of 10% as more people are putting houses onto the market.

But this will not last as the population is increasing and supply will decrease pushing prices up again maybe starting next year.

40% in 5 years may actually be close considering its that far off the long term average.

Houses will not get smashed like the US as we do not have too many houses.