I hear the Government talking about a 13.5% effective rate of unemployment and there is no immigration. On that basis where are residential property prices most likely to go?
I agree it's a good time to live in a debt free house and to enjoy a debt free lifestyle. In that situation you don't need to care about where the price of capital city RE will trend.
There are of course markets within markets. A house in a regional centre that is worth $300K maybe worth $900K in Parramatta or $2m in inner Sydney with all three houses having reasonable access to employment, schools, shops and hospitals. That is one reason why people are exiting inner Sydney. Brisbane maybe different with its own markets within markets but I can't see why the overall trend would be different.
