the ability to "flog" ANY piece of land to a "bigger fool" with minimum effort or improvement WAS the underlying factor !!!
couldn't have said it any better myself, a good summary DRDAN!
the days of people chucking in their day jobs in return for becoming a self made renovater ie. the definition is, buy any property in a bull market slap on some paint,put in a new garden ,kitchen and bathroom curtousy from bunnings or like then flick the property back to the same agent that they originally bought it from in return for a quick 50k+
those days are well over just as the the easy availbilty to cheap credit that helped fuel the high prices seen at the weekend sales 'LATE LAST YEAR '!.
MY ANAYLSIS OF THE PROPERTY MARKET FROM BOOM TO BUST REVEALS THAT THERE'S MORE FAT TO COME OFF THE OVER INFLATED PRICES THAT VENDORS ARE STILL 'HOPING' TO OBTAIN.
the lack of demand on this last weekend sales in vic delivered a clear message to those dissapointed vendors:
1- CONSIDER REDUCING YOUR ASKING PRICE NOW!!!!!!!!! 2-SAVE YOURSELF SOME $$$ & CONSIDER A PRIVATE SALE
