I've been saying the same thing myself for a few years now and...

I've been saying the same thing myself for a few years now and so far been proven wrong , but did sell the family home 2 weeks ago and lucky to get out . The situation now is that for properties over 1.5 mill people are not really bidding at auction and waiting till the property to be passed in .I was fortunate in that 2 people were interested in my property so I was able to negotiate a good price . Most are negotiating with one interested party , or the properties are being passed in on a vendor bid

The penny hasn't dropped with the majority that property values are falling in inner city Australia . When it does you might see a rush for the exits .I think interest rates are the key .If interest rates spike up there are many who will be in a very difficult position