Balga eh? Isn't that where Burkey used to live?Yeah!Well a...

Balga eh? Isn't that where Burkey used to live?
Yeah!
Well a friend of mine just came back from a Perth property seminar today. It was stated there, that the "workers" friend, the State Labor Party has been bogged down in bureacratic bungling and ineptitude over many years and their inaction, procrastination, incompetence, and lethargy when it comes to subdivision approvals has exacerbated the problem now being encountered due in part to the mining boom.

The government of course, blame greedy developers who they say are calculatingly slow to release land. Whilst this may occur on a small scale, developers are quite keen to release land now and take advantage of such a strong market.
In summary, another bungling Labor government that won't survive the next poll.
House prices in Perth appear to have plateau'd and it does not appear they will be imune from macro economic events around the world.

They could very easily fall in response to interest movements, a decline in the current frenetic mining activity; and/ or recessionary events elswhere.