The economist magazine has this week done an in-depth survey on this property bubble occuring around the world saying that australia will, not probably, but will lose at least 30% value. check it out (there are about 8 separate studies)
Once you read this i expect owners will sell and non-owners will put off buying for a while to come. ALL the invalid excuses from posters recently suggesting there is no bubble have been put to the test. Refutes myths such as - Property always goes up - "but this time its different" - immigration means demand and thus higher prices - limited land supply, etc
