Gav, I make thousands per week in the market, try that with property...lol.......I sold near the peak and I have been watching the property market fall ever since.
Have you noticed that the REI do not want clearence rates published in the newspapers....They want everybody to think the market is ok but it is not. The bottom end of the market "Frankston North" have had prices come back around 15-20% since the peak.
Houses around here are on the market for up to 6 months before they eventually sell..The pity is the buyer thinks he is an instant Landlord and a for lease sign goes up next. These places are still not leased out after 3 months so it goes back on the market.
The Government is having a field day on the StampDuty churn....
PS....I have it on extremely good advice (Treasury) that the current Victorian government will have drained the states coffers dry by 3rd quarter 2006.
