WA's boom is over too, by the way I think that the next downturn in the stockmarket will not result into money flowing back to property, most of the run-up is from resource co's so the crash will be resource based, properties have only risen in resource states, they will fall hardest in these states too.
Only a fool would be buying property at these levels, it will crash just needs one of many possilbe events to happen be it commodity crash, market crash, rising rates, rising unemployment etc etc
Country house prices fall as investors look for better returns
The median value of homes across country WA has dropped as investors desert the market for areas offering higher rental returns, the latest report by national property analyst Residex has revealed.
The value of country houses fell just over 5 per cent in the December quarter, according to the report, which reflected similar data from the Real Estate Institute of WA.
REIWA found the median house price in some outer Perth suburbs had dropped up to 10 per cent. http://www.thewest.com.au/default.aspx?MenuID=146&ContentID=19624
