ps I dont agree lower and middle range property has declined, only higher value property declined, which pulled the median lower kincella
Not quit true, the falls are mainly in the Periphery while the inner city is holding up or even gaining in price.
Top floor bankers are concerned that it will spread from there which it most likely will.
While the mining boom last, the close to the city will avoid a crash but the rest of Perth will have an accelerating decline later this year.
While I am at it, no tightening of lending criteria yet nor a credit crunch from the banks mouth. They have told the junior bankers though to scrutinize loan applications more, which has resulted in roughly one in ten application being rejected.
Have a nice weekend, bloody cold over here in Perth. :)
