melbourne house sales slump by 44 percent

http://www.theage.com.au/national/house-sales-tumble-as-slump-bites-20080830-465v.html

States Victoria's property market is now in a severe slump with the worst most likely still to come.

For a first home buyer, this is BRILLIANT news for me and I'll be looking at Buying in around 12 months time as I think things will still get a lot worse from now till then.

In an area that I've been looking to buy, house prices have dropped about $100k already this year, giving all the gains from 07 back.

I just love the Real Estate Agents and REIV when they come out with these RIDICULOUS statements thats there's never been a better time to buy and get in the market now before it's too late and BLAH BLAH BLAH!!! Only a FOOL would listen to what they've got to say I reckon!!!

Any thoughts folks???