I tend to disagree, apartment prices have already dropped 10% and rental prices are plumeting due to an increase in vacancy rates, the demise of Henry Kaye will also add to the drop in prices as his 'bulk buying' has now been removed, add to this an expected increase in interest rates adding to the supply of appartments on the market as people try to sell out.
Interest rates will go up as inflation is running at around 8%, don't believe the RBA's measure as it does not include the stuff you need to stay ahead in this world today (private health insurance, mobile phone, internet, etc....), it's only a measure of what you need to survive.
So appartment prices will fall, there's no doubt supply is way to high, as for imigration, state governments are calling for a cut in the numbers as our infastructure (Water being the main one) cannot support the increase in population.
However, having said all that, I believe house prices will flatten and maybe drop only around 10% overall. The most important investment you can make is an investment in dirt, and if it comes with a house it's a bonus.
