re: houses overpriced by 50% I disagree to some extent. One wonders how they extrapoloate the information. Overseas house prices in prime locations, especially seafront property make Australian property cheap. Looked at a London newspaper tonight where a inland mansion similar to one I know, sold for $2.6 mill pounds which equates to $6,176,626.
I know plenty of properties in exclusive beachfront locations such as in Brighton in Melbourne or Sydney Harbour where you can obtain the space and luxury for half that price imho.
I reckon apartments may be in for a tough time over the next 12 months due to oversupply imho.
