some say house prices to fall by 40 percent, page-111

Don't know why Perth is expected to drop substantially....daughter has been shopping for her first house and we've been helping. Very few, if any, distressed sellers out there at the moment...rentals have tenants....and with the latest interest drop I expect landlords are a bit more comfortable with holding. She just closed her purchase in Heathridge and I reckon she got it for, at best, 10% off what it would have been a year ago....and it took a fair bit of back and forth haggling....Unless the resource industry falls on its backside I think Perth has just about hit bottom now...