hmm dunno, prices in Perth are "lowest they've been in a while"...

hmm dunno, prices in Perth are "lowest they've been in a while" yet every house or apartment for sale is way beyond market value, as I am finding out in my property hunt since February.
It's not a buyer's market where lenders recognise insufficient equity in listed properties and refuse to finance, a problem compounded by sellers with stubbornly unrealistic asking prices.

Huge supply of apartments as it is, let alone what's being built and in the pipeline for off-the-plan projects yet to start.