Supply is higher than previous and growing, prices dropping over the next year
Demand dropping etc....
People can't afford to keep buying houses in Perth for 450K+. E.g. 2 x teacher friends of mine bought a 400K house, 1 wage 800/week goes into the mortgage, the other 800/week goes into food etc. They don't have kids but i'm sure there are others out there in that situation.
All the gov service people etc can't afford these prices, first home buyers cn't afford to buy or build, not everyone is on mining wages.
