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)
http://www.economist.com/displaystory.cfm?story_id=1794873
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
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