Dams, Desal Plants and environmental issues aside, Perth has always had a differing trend cycle to the East. W.A's Isolation has always created it's own economy to a degree, recent years though, do indicate that Federal GST issues and two terms of apathetic management from Barnett & Co have played a significant part in this current down trend.
By and large, cyclical history would indicate that W.A will pick up over the longer term and may even benefit from a far more stable and less investor driven property market with a consistent lower growth pattern more associated with fixed term rates rather than the erratic boom/bust explosive type cycles it has historically been in the past.
For those who chased the dream house all the way to the top amidst the most ferocious investor buy-a-thon ever seen in this state, do what your grandparents did, hang on for the long haul. The property market is an ever evolving beast, the capacity to survive it's dumps is the key to harvesting it's high's!
Is there any difference between what has happened in W.A than what is happening in Melbourne and Sydney? All I know is, I wouldn't be joining the queue to surf that tidal wave.
Good luck to all mortgage holders, we need it guys, wherever we live!
