As long as interest rates are high, petrol prices are high, credit crunch is on going this correction has only started & will get worse, property is not as attractive as it was a year ago, prices went out of control time to bring them back to fair value, 3year fixed loans that end this year (like myself) wont be liking a interest rate move from 6.5% to 9.5%+.
I think mid to late next year is the time to look at property investments, for now let the correction set in & see what we are really in for, 10-40% is reasonable.
*Though I still like Frankston very cheap with mitcham/franston freeway completed this year.
