Ok, i'll state a few facts to the best of my knowledge, then you...

Ok, i'll state a few facts to the best of my knowledge, then you guys rip the crap out of me and tell me i'm wrong ... or right haha

1) Job market in WA is very very strong, with no signs of slowing downn. Driven by mining boom. High income jobs = people with money.

2) Very tight supply of new dwellings coming onto market creating a shortage in housing

3) Migration both international and interstate higher than building industry's possible supply of new houses thus keeping prices high or at least rents high

4) Cost of construction only getting more expensive, thus including high land value we have justified high prices

5) China is our biggest export market. Expected to grow at 10% despite a recession in USA, hence keeping mining strong and jobs high. China has 17million migrants from rural areas to city areas a year. Which roughly means a city the size of new york needs to be built every 6 months (demand for concrete, steel, ect ect will hence remain high)

6) India currently growing at 9% but havn't really begun to be consumers yet. Large population. Drive future demand for Australian commodities and hence mining industry

All this equates to Perth property prices remaining strong in the mid to long term. We are most likely experiencing a short term breather, demand for property still remains high. Inner city high rise apartment building with 250 apartments has 240 sold with penthouse selling for aprox $14 mil. Other projects like this are also effectivly sold off the plan. Property market will remain strong, despite how shoddy US are doing due to de-coupling of American and international markets. Falling stock market will have investors who made a killing in the last few years and cashed up. looking for a physical asset, less volatile than stocks. will move to property.

Lol trying to convice myself to buy something haha those are my arguments for. Thats my IMO, IMHO, 2 cents ect ect lol

Thoughts people?