I would like to buy an investment property in Perth. I have placed a few offers, all approx 20% under the listed property price. No takers so far, but might wear them down. Betcha I will get some call's in the next 12 months or more from RE agents remembering my initial offer and stating vendors now want to talk. Go back with a 5-10% reduction again maybe?
Average Perth price $390K by middle of 2013.
Nothing can save the Perth market from a substantial correction. I am a realist though, it won't drop any more than 20% from where it is now. It will eventually rise gradually, however not until 2015 or so.
